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IMF questions daily bitcoin purchases by El Salvador
According to an official letter signed by the President of the Central Bank of El Salvador, Douglas Pablo Rodríguez Fuentes, and Finance Minister Jerson Rogelio Posada Molina, the country’s government has not acquired any bitcoin since February 2025, following the conclusion of a $1.4 billion financing agreement with the International Monetary Fund (IMF).
As reported by The Block, the letter was included in the IMF’s first program review, published on July 15. It explicitly states that “the stock of bitcoins held by the public sector remains unchanged.” Furthermore, the government provided the IMF with the addresses of all its hot and cold wallets to enable continuous monitoring of digital asset flows. This move strengthens oversight of the agreement’s terms and highlights the IMF’s push for greater transparency in the management of crypto assets by public institutions.
Contradiction with Bukele and Bitcoin Office statements
However, the government’s official stance contradicts public claims made by President Nayib Bukele and El Salvador’s Bitcoin Office. Since late 2022, both have maintained that the country purchases one bitcoin per day. Bukele previously stated that the country would continue its BTC buying strategy.
According to the Bitcoin Office, the national treasury currently holds approximately 6,242 BTC — worth around $737 million at current market prices.
Blockchain intelligence firm Arkham confirms daily bitcoin transfers from wallets primarily linked to Binance and Bitfinex. Despite the IMF agreement requiring El Salvador to scale back its crypto activity, Bukele has insisted on continuing BTC purchases. He previously said the strategy would not change, even in the face of international pressure and criticism.
BTC purchases by El Salvador. Source: Arkham
IMF doubts and rising Bitcoin interest
Nevertheless, the IMF suggests that this activity may be misleading. A footnote in the report indicates that the increase in reserves is more likely due to internal wallet consolidation rather than new acquisitions. This may imply that El Salvador is reorganizing its existing digital asset holdings rather than expanding them.
Notably, all of this unfolds amid a major bitcoin milestone: for the first time, its realized market capitalization has exceeded $1 trillion. Shortly after BTC’s spot price hit a new all-time high of over $123,000, investor interest surged dramatically.
At the time of writing, bitcoin is trading around $118,000.
Read also: The UK considers selling bitcoin to cover its budget deficit
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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