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IMF attributes El Salvador's Bitcoin growth to private donations rather than state spending

The International Monetary Fund clarified that El Salvador's post-June 2025 Bitcoin acquisitions came from private donations following scrutiny over the country's reserve reporting.

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The International Monetary Fund confirmed on Thursday that El Salvador did not use public resources to acquire Bitcoin following the initial review of its financing program in June 2025. Documentation provided by Salvadoran officials verified that the additional cryptocurrency held by the state was received via private donations rather than government-funded purchases.

The lender also reported that majority ownership and operational oversight of the Chivo digital wallet have been transferred to a private company, leaving the government with a minority holding and custodial roles. The IMF stated that no further additions beyond documented donations are anticipated under the program terms.

The explanation follows scrutiny surrounding El Salvador's November 2025 announcement that it had acquired 1,090 BTC valued at $100 million. Under agreements established in late 2024 and revised in March 2025, the country committed to restricting public-sector Bitcoin engagement, making business acceptance voluntary, requiring tax settlements in US dollars, and halting voluntary state accumulation.

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