El Salvador’s post-review Bitcoin accumulation used no public funds: IMF
The IMF said El Salvador did not use public funds to add Bitcoin after the first review of its June 2025 financing program. Based on documents from Salvadoran authorities, the increase in holdings came from private donations, not government-financed purchases. The IMF also said control of the Chivo wallet’s operations was transferred to a private operator, while the government kept a minority stake and custodial duties. No further Bitcoin accumulation beyond documented donations is expected. This follows months of uncertainty over compliance with the IMF’s $1.4 billion program. The deal had required reducing public-sector involvement in Bitcoin, making private acceptance voluntary, and phasing out government role in Chivo. Despite that, officials and the Bitcoin Office repeatedly claimed continued accumulation. The IMF previously said earlier balance increases were due to wallet consolidation, not new purchases. El Salvador’s reserves are now about 7,764 BTC.
