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BTC The International Monetary Fund discovered that El Salvador used private donations to expand national Bitcoin reserves
The International Monetary Fund (IMF) recently disclosed that since June 2025, El Salvador has used recorded private donations rather than public funds to expand its Bitcoin reserves. The findings were released within the framework of the agency's agreement on the second and third reviews of El Salvador's 40-month Extended Financing Facility. After approval and implementation of the established measures, approximately US$140 million in additional financing lines are expected to be released.
According to the International Monetary Fund, Salvadoran authorities provided relevant documents confirming that the new bitcoins came from private donations. However, the plan requires authorities to limit government participation in the Bitcoin space and strengthen regulation of cryptocurrency assets linked to state agencies. Previously, the International Monetary Fund had sought guarantees that El Salvador would keep its government-funded Bitcoin holdings unchanged while implementing its economic plan.
Bitcoin holdings growth and transparency challenges
Despite this, the country's Bitcoin office reported an increase of 8 bitcoins, bringing the total holdings at the time to 6,190.18. Subsequently, El Salvador disclosed a purchase of 1,090 bitcoins worth approximately US$100 million, the country's largest single-day bitcoin increase reported. The transaction brought the total number of positions nationwide to 7,474. However, the International Monetary Fund now attributes the increase after June to recorded private donations.
The International Monetary Fund did not disclose the specific amount of donations, the identity of contributors or the independent value of each donation. As a result, it is impossible to determine how much privately donated bitcoins entered government-controlled wallets during the coverage period. In addition, the IMF does not expect further accumulation beyond recorded private donations. Currently, El Salvador is improving the transparency of multiple wallets while strengthening the governance and risk management of cryptocurrency positions in government departments.
The government reduces its role in the Chivo wallet
At the same time, authorities have significantly reduced public participation in the "Chivo" cryptocurrency wallet. The wallet was launched along with the country's Bitcoin strategy. Currently, a private operator holds a majority stake and is responsible for day-to-day operations, while the government retains only a minority interest. However, the state still bears the responsibility of hosting customer assets through the Chivo platform.
Bitcoin prices traded around $81,000 on Friday, rising 4.5% in the past 24 hours, giving the total market value of approximately $1.6 trillion. Ultimately, the IMF's disclosure linked recent reserve growth to private donations and distinguished these increases from government-funded Bitcoin purchases.
