Bitcoin News Today: El Salvador Halts Bitcoin Purchases Since December 2024 IMF Confirms

El Salvador has not made any new Bitcoin purchases since December 2024, as confirmed by the International Monetary Fund (IMF). This revelation comes as part of the IMF's $1.4 billion Extended Fund Facility (EFF) loan, which was secured by the country in early 2025. The IMF's report, released in July 2025, stated that the overall stock of Bitcoin held by the public sector has remained unchanged since the program approval.

Throughout 2025, President Nayib Bukele and the National Bitcoin Office consistently posted on social media that the country was accumulating Bitcoin at a rate of one per day. Public-facing wallets showed an increase in holdings, and government tweets reinforced the idea of ongoing purchases. However, the IMF's findings reveal that these increases were due to internal movements between government-owned wallets, not new purchases. The report also noted "small fluctuations" in Bitcoin deposits in the government’s Chivo e-wallet, which were addressed through internal corrective measures rather than additional public funds.

The discrepancy between the government's claims and the IMF's findings raises serious questions about transparency and trust. El Salvador made global headlines in 2021 by adopting Bitcoin as legal tender. However, in January 2025, the country reversed course under pressure from international lenders and with a fragile fiscal position. 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.

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. This move aligns with a broader push for fiscal transparency and market discipline under the Fund-supported program. The government has also 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. The IMF's confirmation that El Salvador has not made any new Bitcoin purchases since December 2024 underscores the importance of transparency and accountability in financial matters. The government's claims of daily Bitcoin acquisitions were debunked by the IMF's findings, which revealed that the increases in Bitcoin holdings were due to internal transfers rather than new purchases. This revelation highlights the need for clear and accurate communication from governments, especially when it comes to financial matters that have global implications.

El Salvador's Bitcoin policy remains a point of contention, with President Bukele and the National Bitcoin Office emphasizing the management of Bitcoin policy. Samson Mow, CEO of JAN3, noted that any movements were simply internal transfers within existing wallets. These findings indicate no direct effect on other cryptocurrencies beyond Bitcoin, reassuring stakeholders about stability. Increases in Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin across various government-owned wallets. Meanwhile, the IMF's consistent demands have necessitated transparency in financial disclosures related to Bitcoin.

El Salvador's compliance with the IMF has lessened the probability of large-scale market interruptions, providing a stabilizing effect compared to the earlier phases of Bitcoin integration when the cryptocurrency was first adopted into the local economy. Market analysts suggest the potential for El Salvador to continue focusing on consolidation and transparency, potentially creating a stable economic environment for blockchain ventures. The IMF's engagement indicates a long-term commitment to fostering sustained growth through compliance.