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🇵🇦 Panama /Sports

Bukele denies transferring all of El Salvador’s bitcoin reserves

From TVN Panamá · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • President Nayib Bukele denied that El Salvador transferred all of its bitcoin reserves to a private operator under a credit agreement with the IMF.
  • The IMF said majority ownership and operational control of the Chivo wallet had moved to a private operator, while the government retained a minority stake and custody responsibility for customer assets.
  • The IMF’s preliminary agreement would unlock nearly $140 million, while requiring El Salvador to halt further bitcoin accumulation beyond documented donations.

Nayib Bukele rejected reports that El Salvador had handed all of its bitcoin reserves to a private operator as part of its agreement with the International Monetary Fund. “The only thing that was transferred was the Chivo shares (...) and NOT the Strategic Bitcoin Reserve,” the president wrote on X.

The only thing that was transferred was the Chivo shares (...) and NOT the Strategic Bitcoin Reserve.

· Nayib BukeleThe president denied reports that El Salvador had transferred its entire bitcoin reserve to a private operator.

The dispute centers on the role of bitcoin in the country’s $1.4 billion credit line with the IMF. Bitcoin formed a central part of the negotiations, and the government removed it as legal tender in January 2025 as it began dismantling the policy.

The IMF said on Thursday that a preliminary agreement would release nearly $140 million in additional funds under an austerity program. The move followed the government’s demonstration that its continued bitcoin purchases had been financed through private donations rather than public money.

Public participation in the Chivo wallet has been substantially reduced and efforts to improve the transparency of bitcoin holdings continue.

· International Monetary FundThe IMF described changes to the government’s role in the Chivo wallet.

In a statement, the IMF said, “Public participation in the Chivo wallet has been substantially reduced and efforts to improve the transparency of bitcoin holdings continue.” It added that “majority ownership and operational control have been transferred to a private operator, while the government has retained a minority stake and custody responsibility for customers’ assets.”

Majority ownership and operational control have been transferred to a private operator, while the government has retained a minority stake and custody responsibility for customers’ assets.

· International Monetary FundThe IMF explained the ownership and custody arrangements for the Chivo wallet.

Bukele said the country’s strategic reserve, valued at $618 million, had not been transferred. The IMF plan nevertheless requires El Salvador to reduce the bitcoin experiment that turned the country into a favorite of the cryptocurrency industry and a curiosity in global finance. “Going forward, no further bitcoin accumulation beyond documented donations is envisaged,” the IMF said.

Going forward, no further bitcoin accumulation beyond documented donations is envisaged.

· International Monetary FundThe IMF outlined a condition of its plan to reduce El Salvador’s bitcoin experiment.
About this summary

Originally published by TVN Panamá in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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