According to a report by The Block on July 20, two senior finance officials from El Salvador signed a letter stating that the country has not purchased any Bitcoin since signing a financing agreement with the International Monetary Fund (IMF) in February 2025. This contradicts the statements made by President Nayib Bukele and his Bitcoin office. The letter was part of the IMF's first project review on July 15, stating that 'the amount of Bitcoin held by the public sector remains unchanged.' Attached documents indicate that El Salvador has provided all hot and cold wallet addresses to the IMF for review and monitoring.
However, since President Bukele announced this initiative in November 2022, his government has repeatedly claimed to purchase one Bitcoin per day. The country's Bitcoin office claims that the nation holds approximately 6,242 Bitcoins (BTC), worth about $737 million. Blockchain intelligence firm Arkham supports the daily transfer of one Bitcoin, primarily from addresses marked as Binance or Bitfinex hot wallets.
President Bukele previously stated that, despite the International Monetary Fund (IMF) agreement providing El Salvador with a $1.4 billion loan requiring the country to reduce Bitcoin activities, it will not stop buying Bitcoin.
