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El Salvador Bitcoin reserves funded by private donations, IMF reports
Five years after El Salvador became the first nation to adopt Bitcoin as legal tender, the cryptocurrency's domestic use remains low. A survey by the Central American University (UCA) indicated that 91.8% of the population did not use Bitcoin in 2024.
Following reviews of El Salvador's $1.4 billion IMF loan program, the International Monetary Fund (IMF) clarified that the country's recent Bitcoin accumulation—totaling over 7,764 BTC—was funded by private donations rather than public resources. The IMF noted that no further accumulation beyond documented donations is expected.
As part of the agreement to modernize the digital asset regulatory framework, the government has substantially reduced its involvement in the Chivo e-wallet. Majority ownership and operational control of the wallet have been transferred to a private operator, while the state retains a minority stake and custodial responsibilities for customer assets. President Nayib Bukele clarified that while Chivo's shares were transferred, the nation's Strategic Bitcoin Reserve, valued at approximately $618 million, remains under government control.
Entities
Central American University · Chivo Wallet · El Salvador · International Monetary Fund · Nayib Bukele
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The Strategic Bitcoin Reserve is valued at approximately $618 million. diarioparaguayo.com · estamosaqui.mx · www.tvn-2.com
- [● 3 SOURCES] Approval of the technical agreement would enable a disbursement of approximately $140 million to El Salvador. diarioparaguayo.com · www.europesays.com
- [● 2 SOURCES] President Nayib Bukele clarified that only Chivo wallet shares were transferred to a private operator, not the Strategic Bitcoin Reserve. diarioparaguayo.com · www.tvn-2.com
- [● 4 SOURCES] El Salvador has not used public funds to accumulate bitcoin since the IMF's first review, relying instead on private donations. www.europesays.com · noticiasaldiayalahora.co · bitcoinmagazine.com
- [● 3 SOURCES] A survey by the Central American University (UCA) found that 91.8% of Salvadorans did not use bitcoin during 2024. www.centroamerica360.com · contextohn.com · www.elmatero.net
- [● 5 SOURCES] Majority ownership and operational control of the Chivo wallet have been transferred to a private operator. www.europesays.com · diarioparaguayo.com · noticiasaldiayalahora.co · bitcoinmagazine.com
- [● 4 SOURCES] The IMF and El Salvador reached a technical staff-level agreement on the second and third reviews of its 40-month Extended Fund Facility. diarioparaguayo.com · www.europesays.com · www.periodicoequilibrium.com
- [● 4 SOURCES] The IMF expects no further accumulation of bitcoin by El Salvador beyond documented private donations. www.europesays.com · noticiasaldiayalahora.co · bitcoinmagazine.com