The IMF has stated that all bitcoin deposited to El Salvador’s state wallets since 27.06.2025 were private donations rather than state purchases.

IMF assessment and program context

According to the International Monetary Fund, no budgetary funds were used to acquire those coins, and no additional inflows beyond documented gifts are expected.

The clarification forms part of the review process for a credit facility originally valued at $1.4 billion, with about $140 million still pending disbursement after board approval.

Official communications and reserves

Despite the IMF statement, the country’s Bitcoin Office posted on 28.08.2025 that the government "just bought more bitcoin," illustrating differing public communications on accumulation practices.

El Salvador’s declared reserve currently stands at 7,764 BTC, estimated at roughly $628 million, compared with 5,968 BTC at the program launch in December 2024.

Transparency and custody

The IMF and San Salvador have not disclosed the identities of the donors who have been transferring bitcoin to the state wallets, leaving the source of inflows anonymous.

Control of the state wallet, previously held in public custody, was transferred to a private operator, a move noted in the fund’s statement and government communications.

Official reaction

President Nayib Bukele responded to the IMF release with a brief comment that was widely circulated in official channels.

«Gradually, then suddenly…»

The arrangement allows the government to present daily accumulation narratives to the electorate while the IMF frames recent receipts as private contributions, with donors remaining unnamed.