IMF Confirms No New Bitcoin Buys by El Salvador

IMF Report Highlights El Salvador’s Static Bitcoin Reserves

The International Monetary Fund (IMF) revealed that El Salvador’s Bitcoin holdings remain unchanged, despite President Bukele’s claims of daily acquisitions. IMF’s review supports this, noting no major inflows in government wallets.

El Salvador adopted Bitcoin as legal tender in 2021, with Bukele leading this charge. However, the recent IMF report contradicts El Salvador’s claims and asserts there have been no new purchases.

Transparency Issues in El Salvador’s Bitcoin Strategy

The IMF’s findings directly challenge El Salvador’s economic narrative, questioning the transparency of its Bitcoin policies. The IMF conditions linked to a $1.4 billion loan include strict crypto asset management rules.

This might affect market confidence in El Salvador’s financial practices, raising doubts about Bukele’s strategy and pressuring the government to justify its previous statements on Bitcoin acquisitions.

“The overall stock of Bitcoin held by the public sector has remained unchanged since program approval.” – IMF, International Monetary Fund

Historical IMF Concerns on Crypto Policies Resurface

In 2021, El Salvador’s decision to adopt Bitcoin faced similar IMF concerns, with previous agreements also emphasizing crypto asset caps. El Salvador’s current stance could lead to potential renegotiations of existing conditions.

Given these past patterns and ongoing IMF scrutiny, El Salvador’s future with Bitcoin might undergo adjustments, potentially altering global perceptions of national crypto adoption strategies.