Bukele Denies Allegations of Bitcoin Reserve Transfer to Private Operator

El Salvador's President Nayib Bukele denied claims that the government had transferred control of its state Bitcoin reserves to a private operator. The allegations arose from a report by El País, which stated that El Salvador had exceeded 7,763 BTC ($79,788.00) in its reserves.

Bukele's response centers on an interpretation of the International Monetary Fund's (IMF) recent statement regarding El Salvador. According to the IMF, it is not the government's strategic Bitcoin reserves that have been transferred but rather the Chivo wallet, a government-backed digital wallet.

The IMF had previously stated that all the Bitcoin accumulated by El Salvador since June 27, 2025, came from private donations. The institution also noted that no public funds were used for Bitcoin purchases during this period and that no additional accumulation of Bitcoins beyond documented donations was expected.