El Salvador's Bitcoin Holdings Funded by Private Donations, Not Public Funds
El Salvador's Bitcoin accumulation after its first IMF review in June 2025 was funded entirely by private donations, not public resources. According to an IMF statement on Thursday, documents provided by El Salvador confirmed that the increase in Bitcoin holdings did not involve additional purchases financed with government funds.
The country had acquired 1,090 BTC worth $100 million in November 2025, sparking questions about compliance with its $1.4 billion IMF program. The agreement reached with the IMF in December 2024 limited public-sector involvement in Bitcoin and required taxes to be paid in US dollars.
El Salvador's President Nayib Bukele had stated that purchases were not stopping, and the country would continue adding at least one BTC daily. The National Bitcoin Office's official reserve tracker shows El Salvador currently holds about 7,764 BTC, worth around $628 million at a price of $80,900 per BTC.
Despite previous explanations from the IMF attributing increases to consolidation among government wallets, private donations have been confirmed as the source of the country's additional Bitcoin holdings. The majority ownership and operational control of the Chivo wallet had already been transferred to a private operator, with the government retaining a minority stake and custodial responsibilities.