Crypto
El Salvador Ditches Public BTC Purchases Amid IMF Review
The International Monetary Fund (IMF) has stated that El Salvador has not used public funds to accumulate Bitcoin since its last review of the country's loan program.
This contradicts previous claims made by President Nayib Bukele, who announced in 2022 that the country would buy one Bitcoin per day. However, it was unclear where the funds were coming from or if the purchases were actually happening.
The IMF report cited documentation provided by the government, which shows that El Salvador has instead received Bitcoin from private donations. It also stated that no further accumulation of Bitcoin is expected beyond these donations.