Catenaa, Sunday, July 27, 2025-El Salvador has not bought any new Bitcoin since February 2025, according to a letter signed by the country’s central bank president and finance minister, disclosed in the latest International Monetary Fund (IMF) compliance report.
This contradicts repeated claims from President Nayib Bukele and his Bitcoin Office, which have touted daily Bitcoin purchases since late 2022.
The letter, part of the IMF’s first program review released July 15, states that the public sector’s Bitcoin holdings “remain unchanged.” An attached document confirms that El Salvador has shared all hot and cold wallet addresses with the IMF for monitoring. The letter was signed by Central Bank President Douglas Pablo Rodríguez Fuentes and Finance Minister Jerson Rogelio Posada Molina.
Despite Bukele’s public statements insisting that Bitcoin buying would continue regardless of the IMF loan conditions, the report suggests recent increases in Bitcoin reserves stem from consolidating coins across government wallets, not fresh acquisitions. The Bitcoin Office claims the government holds about 6,242 BTC, valued at approximately $737 million.
Blockchain analytics firm Arkham supports the existence of daily 1 BTC transfers, primarily linked to Binance and Bitfinex wallets. The head of the Bitcoin Office, Stacy Herbert, has argued publicly that El Salvador is still purchasing Bitcoin, a position at odds with the IMF letter.
The IMF previously said the Bitcoin reserve increases do not violate the loan agreement.
The fund has sought to curb El Salvador’s Bitcoin activity as part of a $1.4 billion financing deal aimed at stabilizing the country’s economy.
