IMF Confirms El Salvador’s Bitcoin Accumulation from Private Donations
- El Salvador has accumulated Bitcoin without using public funds, as confirmed by the IMF.
- The majority ownership and operational control of the Chivo wallet have been transferred to a private operator.
- As of now, El Salvador holds approximately 7,764 Bitcoin, valued at around $628 million.
- The increase in holdings is attributed solely to private donations, not government purchases.
- El Salvador previously stated it acquired 1,090 BTC worth $100 million in November.
Following the first review of its IMF financing program in June, El Salvador’s compliance with the agreement has been under scrutiny due to its ongoing Bitcoin accumulation strategy. The IMF clarified that no further accumulation beyond documented donations is anticipated.
Currently, El Salvador’s Bitcoin reserves remain higher than before the IMF agreement, reflecting growth attributed to private donations rather than public sector involvement.(Source)
