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BTC El Salvador's President denies handing over national bitcoin reserves to private operators
El Salvador's President Nayib Bukele denied a report in El País that the government has handed over control of the national bitcoin reserves of more than 7,763 bitcoins to a private operator.
Bukley's objection is based on an interpretation of the language in a recent statement by the International Monetary Fund (IMF). According to the IMF, the entity whose majority stake and operational control have been transferred to private operators is not El Salvador's strategic bitcoin reserves, but the government-backed Chivo Wallet.
Previously, the IMF had stated that documents submitted by El Salvador showed that since the first Extended Financing Facility (EFF) review on June 27, 2025, all Bitcoin accumulated in the country had come from private donations. The agency noted that no public funds were used to purchase Bitcoin during this period and that no additional Bitcoin holdings are expected to be added to recorded donations.
The announcement came after the IMF delegation reached an agreement with El Salvador to merge the second and third EFF program reviews. After obtaining approval from the IMF Executive Board and meeting agreed preconditions, El Salvador is expected to receive approximately US$140 million in additional financing.
This article does not constitute investment advice.
