TL;DR
- El Salvador accumulates bitcoin without using public funds: the IMF confirmed that holdings grew through private donations since June 2025.
- The country reported in November 2025 a purchase of 1,090 BTC valued at $100 million, which caused compliance issues with the IMF.
- Official reserves stand at 7,764 BTC, equivalent to approximately $628 million at current market prices.
The IMF confirmed that El Salvador did not use public resources to accumulate bitcoin following the first review of its financing program of $1.4 billion, approved in June 2025. According to documentation submitted by Salvadoran authorities, the bitcoins added since that date come exclusively from private donations. The organization did not identify the donors nor specify the individual amounts contributed.
In November 2025, El Salvador announced the acquisition of 1,090 BTC for a value of $100 million, which called into question compliance with the Fund’s agreement. In December 2024, the country had agreed to limit public sector involvement in bitcoin, make private acceptance of the cryptocurrency voluntary, require tax payments in dollars, and gradually dismantle the state wallet Chivo. In March 2025, the IMF issued new documents that explicitly prohibited the “voluntary accumulation” of bitcoin by the public sector.
El Salvador Complies, but on Its Own Terms
President Nayib Bukele responded to those restrictions by declaring that purchases “were not going to stop” and that the country would continue adding at least one BTC daily. The country’s official tracker shows this is a reality: reserves grew from pre-agreement levels to the current 7,764 BTC, valued at approximately $628 million according to CoinGecko data.
The IMF also noted that majority ownership and operational control of the Chivo wallet were transferred to a private operator, although the government retained a minority stake and custody of user assets. The organization did not identify the new operator.
The staff-level agreement reached between both parties covers the combined second and third review of the 40-month extended fund facility program. If approved by the IMF’s board, El Salvador would receive a disbursement of approximately $140 million. The organization also indicated that no further accumulation beyond the already documented donations is expected.