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IMF confirms no new public-sector Bitcoin purchases by El Salvador despite government claims of daily accumulation
El Salvador’s government claimed throughout 2025 that it was buying one Bitcoin per day. However, a newly published IMF report directly contradicts those assertions.
IMF Reveals El Salvador’s Bitcoin Bluff
The July 15 report, part of the IMF’s Article IV consultation and first program review, makes clear that El Salvador has not bought any new Bitcoin since the $1.4 billion Extended Fund Facility (EFF) was approved in December 2024.
“The overall stock of Bitcoin held by the public sector has remained unchanged since program approval,” the IMF stated.
Throughout the year, President Nayib Bukele and El Salvador’s National Bitcoin Office continued to post on social media that the country was accumulating Bitcoin—one per day.
Public-facing wallets showed an increase in holdings, and government tweets reinforced the idea of ongoing purchases.
Turns out the IMF did in fact make El Salvador stop Bitcoin purchases in order to get a fiat loan.
Footnote #9 states they have just been making it appear as if they have been continuing to buy but in fact have just been consolidating multi government wallets.
Around the same time, the Bitcoin Office claimed holdings exceeded 6,102 BTC. The media cited these numbers, which were widely repeated in crypto circles.
However, the IMF debunked this story in its official program review.
What Actually Happened
According to the Fund, the rise in Bitcoin wallet balances came from internal movements between government-owned wallets—not new purchases.
These wallet consolidations gave the illusion of buying but reflected no fresh market activity.
The report also disclosed “small fluctuations” in Bitcoin deposits in the government’s Chivo e-wallet. These, too, were addressed through internal corrective measures, not additional public funds.
Put simply, no taxpayer money has gone into buying more Bitcoin in 2025.
Local Newspaper Headline About El Salvador’s Bitcoin Reserve Value Soaring Above $725 Million After BTC All-Time High
More specifically, it stripped Bitcoin of legal tender status and agreed not to use public resources to acquire more.
The IMF’s new findings confirm that El Salvador is honoring its financial commitments.
Chivo Under Fire
The IMF report also cited “minor deviations” in performance criteria due to irregularities in the Chivo system. The Salvadoran government has agreed to fully end public-sector involvement in the Chivo Wallet by the end of July 2025.
Bitcoin Versus The IMF
In this new report, we explain how the IMF is both obsessed with Bitcoin & vehemently anti-Bitcoin. In the El Salvador IMF country reports, Bitcoin is the second most common word #Bitcoin is mentioned 319 times in two reports!! pic.twitter.com/12QkN4OEYK
This move aligns with a broader push for fiscal transparency and market discipline under the Fund-supported program.
Also, the government has committed to publishing financial information for state-owned enterprises and to unwind the public Bitcoin trust, Fidebitcoin.
As the end-of-July deadline for privatizing Chivo approaches, the Bitcoin community will be watching to see if El Salvador follows through—or keeps spinning a narrative at odds with the facts.
Due to the rising popularity and influx of capital into Bitcoin and ETF products, many prominent individuals, including Michael Saylor, Eric Trump, Robert Kiyosaki, and others, have set a $1M price target for this token by the end of 2023. If Bitcoin price reaches $1 million during this bull run, what would its impact be
