The IMF report states that El Salvador has not added to its Bitcoin holdings, only integrating its existing position.

By: theblockbeats.news|2025/07/20 09:22:09

BlockBeats News, July 20th, according to a report from TheBlock, based on a letter signed by the President of the Central Bank of El Salvador and the Minister of Finance, El Salvador has not purchased Bitcoin since February 2025. The letter is part of a recent International Monetary Fund (IMF) compliance report. This statement contradicts President Nayib Bukele and his Bitcoin Office's statement, as the El Salvador Bitcoin Office claims that the country's Bitcoin reserve is about 6,242 coins, valued at around $7.37 billion, and still adheres to the daily accumulation of one Bitcoin. Arkham Data also supports El Salvador's daily record of accumulating 1 Bitcoin, with most of these transfers coming from addresses labeled as Binance or Bitfinex hot wallets. The head of the Bitcoin Office, Stanzi Herbert, had previously stated that El Salvador continues to purchase Bitcoin, disregarding the IMF agreement.

It is worth noting that the International Monetary Fund (IMF) compliance report indicates that these transaction records may not be new purchases but rather the El Salvador government consolidating its existing Bitcoin holdings. The IMF report states in a footnote: "The increase in the Bitcoin holdings in the strategic Bitcoin reserve fund reflects the government's consolidation of Bitcoin from multiple wallets held."

As of now, the El Salvador Bitcoin Office has not commented on this.

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