IMF confirms El Salvador Government will Sell Chivo Bitcoin Wallet
El Salvador is in advanced negotiations to sell its government-operated Chivo Bitcoin wallet, according to the IMF, amid ongoing discussions about the country's Bitcoin policy. This move follows a $1.4 billion loan agreement with the IMF, which includes a $120 million payment in 2024 and requires El Salvador to stop acquiring Bitcoin, limit public sector involvement in Bitcoin activities, and reduce its involvement in the Chivo wallet. While the IMF reported that no Bitcoin purchases have been made since December 2024, El Salvador’s Bitcoin Office claims ongoing acquisitions, most recently 1,090 BTC in November. The government currently holds about 7,509 BTC, valued at $659 million. President Nayib Bukele maintains his commitment to daily Bitcoin purchases, casting uncertainty over compliance with IMF conditions. El Salvador officially adopted Bitcoin as legal tender in 2021.
