Bukele Denies Claims of State Bitcoin Reserves Sale
El Salvador's President Nayib Bukele has denied allegations that his government sold its state Bitcoin reserves. The claims were made by Spanish newspaper El País, which stated that the country had transferred control of over 7,763 BTC to a private operator.
Bukele responded by citing an International Monetary Fund (IMF) statement regarding El Salvador's Bitcoin holdings. According to the IMF, the entity whose majority stake and operational control has been transferred is not the state's Bitcoin reserves, but rather the government-backed Chivo wallet.
The IMF also stated that no public funds were used for Bitcoin purchases during a specific period and that no additional accumulation beyond documented donations was expected. This announcement came after an IMF delegation reached an agreement with El Salvador to combine the second and third reviews of the Extended Funds Facility (EFF) program, potentially gaining access to $140 million in additional financing.
The clarification from the IMF appears to have addressed the concerns raised by El País, but some questions may still remain about the management of El Salvador's Bitcoin reserves.