IMF Confirms El Salvador’s Bitcoin Growth Came From Private Donations, Not Public Funds

The International Monetary Fund has confirmed that El Salvador did not use public funds to expand its Bitcoin holdings following the first review of its financing program in mid-2025. According to the lender, documentation provided by Salvadoran authorities verified that the growth in the country’s Bitcoin reserves came entirely from private donations rather than government-funded purchases.

The IMF also noted that majority ownership and day to day control of the country’s official Chivo wallet has shifted to a private operator, with the government retaining only a minority stake and limited custodial duties. The organization added that no further Bitcoin accumulation beyond already documented donations is anticipated going forward.

Background of the Ongoing Compliance Dispute

This clarification comes after El Salvador previously disclosed acquiring a significant amount of additional Bitcoin worth roughly $100 million late last year, which raised fresh questions about the country’s adherence to its multibillion-dollar IMF loan agreement. Under that agreement, El Salvador had committed to limiting public-sector involvement in Bitcoin activities, making private-sector acceptance voluntary and gradually unwinding government participation in its official wallet system.

Despite restrictions introduced earlier in 2025 barring public-sector Bitcoin accumulation, the country’s president had publicly stated that Bitcoin purchases would continue. The IMF had previously attributed similar increases to internal wallet consolidation rather than new purchases, before this latest clarification addressed the more recent growth.

Current Bitcoin Holdings

According to the country’s official Bitcoin tracking office, El Salvador currently holds thousands of Bitcoin worth several hundred million dollars, a balance that remains higher than before the original IMF agreement was signed, reflecting the private donations acknowledged in the fund’s latest statement.