IMF Salvador Bitcoin Report: No Buys Since February 2025

IMF Salvador Bitcoin Review Says No Purchases Since February

Report reveals EI Salvador Halted Bitcoin Purchase since February 2025

The latest IMF Salvador Bitcoin review has created a stir by stating that EI has not bought any new BTC since February 2025.  This directly challenges President Nayib Bukele’s popular claim of buying one Bitcoin everyday. 

Source: X

The timing is important as February 2025 also marks the starting of EI $1.4 billion financing which deals with the International Monetary Fund that includes conditions around reducing BTC related activity. 

Letter from top Contradicts Bukele’s claims 

A letter signed by two financial officials of EI that are Central Ban President Douglas Pablo and Finance Minister Jerson Rogelio Posada Monlina, confirms that the nation’s golden asset stock has remained unchanged. 

Source: International Monetary Fund

The letter was submitted as a part of the IMF Salvador Bitcoin first program review which clarifies that no new purchases have been made since the deal with the IMF Salvador Bitcoin was signed. This is a direct contradiction of Bukele’s long-standing claims. 

Official wallet data provided to IMF Salvador Bitcoin

To maintain transparency, EI has provided the IMF Salvador Bitcoin with access to its all time high wallet address of both hot and cold storage. According to the report, any increase seen in the country’s golden asset holdings is due to internal wallet restructuring but not fresh buys. 

Essentially the government has been moving existing asset between wallets but not adding more in reserves. 

Blockchain data suggests otherwise 

On the other hand, blockchain research firm Arkham has reported that there are daily 1 BTC transfers from unknown exchange wallets like Binance and Bitfinex. The BTC matched Bukele’s narrative. 

The BTC office which is led by Stacy Herbert also insists that daily purchases are ongoing and recorded on the blockchain. Herbert even criticized those who trust International Monetary Fund reports over blockchain data calling it a ledger of truth. 

Source: X

IMF says reserve increases Don’t violate terms 

Interestingly, it clarified in March that even if the BTC reserves appear to have increased this does go against the terms of the loan agreement. 

They acknowledged that the movements were internal consolidations and not new market buys.

Conclusion 

There seems to be a growing gap between official documents and public statements while the blockchain shows signs of activity. EI government says it is not a new purchase. Whether it is clever financial strategy or mixed messaging , only time and transparency will reveal the full picture.