IMF Reports El Salvador Has Not Purchased Bitcoin Post-Loan Agreement
The International Monetary Fund (IMF) disclosed that El Salvador has not acquired any Bitcoin (BTC) since signing a $1.4 billion loan agreement in December 2024. This contradicts claims from El Salvador’s Bitcoin Office about daily BTC purchases, casting doubt on the country’s Bitcoin adoption strategy.
Discrepancies in Bitcoin Holdings
The IMF report notes that the Chivo Bitcoin wallet does not update its Bitcoin reserves to reflect changes in client deposits. This creates minor discrepancies, suggesting El Salvador’s public sector was accumulating BTC. The report calls for greater transparency in crypto regulations and fiscal policies.
El Salvador’s Defiant Position
Despite the IMF’s findings, President Nayib Bukele insists El Salvador will continue daily BTC purchases. This stance has sparked debate in the Bitcoin community, as El Salvador remains a pioneer in national Bitcoin adoption. Analysts suggest this could influence other nations considering cryptocurrency integration.
Key Facts
- El Salvador secured a $1.4 billion IMF loan in December 2024.
- The IMF reports no new Bitcoin purchases by El Salvador since the agreement.
- President Nayib Bukele reaffirms commitment to daily BTC accumulation.
