Bukele Denies Private Transfer of El Salvador's Bitcoin Reserve
El Salvador's President Nayib Bukele has denied reports that his country has transferred control of its strategic Bitcoin reserve to a private operator. The claims, made by Spanish journal El País, stated that El Salvador had given up majority ownership and control of over 7,763 BTC, valued at over $632 million, to a private entity.
Bukele took to social media platform X to address the allegations, calling them 'totally false.' He linked directly to an IMF press release, stating that only Chivo shares were transferred, not the nation's Bitcoin reserve. The President emphasized that this was done over a year and a half ago.
The IMF did praise El Salvador's economic growth and fiscal surplus in their statement, crediting improved security for the country's success. However, Bukele chose to ignore IMF claims that the Bitcoin reserves were accumulated through private donations, instead stating that El Salvador continues to purchase cryptocurrency.
Bukele also highlighted his government's achievements, including a primary fiscal surplus and exceeding economic growth expectations due to increased investor confidence and security improvements.