El Salvador Hasn’t Bought Bitcoin Since December 2024, Says IMF Report

Key Points

1. El Salvador adopted Bitcoin as legal tender in 2021 under President Nayib Bukele's leadership, but by mid-2025, the initiative appears to be fading.

2. The IMF approved a $1.4 billion bailout for El Salvador in February 2025, with the condition that the country limits public-sector Bitcoin activity, including purchases and transactions.

3. According to an IMF report from July 2025, El Salvador has not purchased any new Bitcoin since December 2024, contradicting earlier government claims of continued acquisitions.

4. The state-sponsored Chivo Wallet is reportedly set to be privatized by the end of July 2025, and the government-run Bitcoin trust, Fidebitcoin, may be dissolved as part of compliance with IMF terms.

5. These developments indicate a shift in El Salvador's approach, prioritizing economic pragmatism and IMF compliance over its earlier pro-Bitcoin policies.