El Salvador President Denies Transfer of Government Bitcoin Reserve

El Salvador's President Nayib Bukele has denied reports that the government had transferred its Bitcoin reserve to private operators. According to Bukele, claims that the government handed control of its 7,763 Bitcoins to private operators under an agreement with the International Monetary Fund (IMF) were false.

The only asset allegedly transferred was the stake in the Chivo wallet, not the strategic Bitcoin reserve, according to Bukele. He also stated that the outlet had misinterpreted the IMF statement.

Bukele's denial comes after reports emerged on September 5 that the Salvadoran government had handed control of its Bitcoin reserve to private operators under an agreement with the IMF.