The IMF's recent report reveals that El Salvador has not purchased any new Bitcoin since signing a loan agreement in December 2024. The report contradicts claims made by El Salvador's Bitcoin Office about daily Bitcoin acquisitions. El Salvador's public sector Bitcoin holdings are reportedly unchanged, and the country is taking steps to reduce its fiscal exposure related to Bitcoin. In January 2025, El Salvador’s legislature made Bitcoin acceptance voluntary and ceased accumulating Bitcoin with taxpayer funds, although the Bitcoin Office continued to assert ongoing purchases. This discrepancy led to tensions with the IMF, particularly after President Nayib Bukele insisted that Bitcoin acquisitions would continue despite negative global perceptions. The IMF emphasized the need for clarity and consistency in El Salvador's public sector Bitcoin strategies, highlighting the challenges faced in managing the Chivo wallet without affecting official Bitcoin reserves.

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