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El Salvador Bitcoin strategy defies the IMF’s claims as the country quietly adds to its BTC reserves
El Salvador has again defied the International Monetary Fund (IMF) by purchasing an additional 8 Bitcoin (BTC) worth $948,392—further cementing its pro-crypto stance despite the IMF’s insistence that no new acquisitions occurred.
The latest buy, executed at an average price of $118,549 per BTC, brings the country’s total holdings to 6,248 BTC ($740 million), directly contradicting the IMF’s claims that recent wallet activity involved internal transfers rather than fresh purchases.
El Salvador Bitcoin strategy is again under the microscope after the government confirmed a new purchase of 8 BTC on July 24, valued at around $948,392.
The acquisition, made at an average price of $118,549 per coin, pushes the country’s total Bitcoin holdings to 6,248 BTC, worth approximately $740 million at current market rates.
Yet, this move comes amid a direct contradiction from the IMF, which claimed the country hasn’t made any new purchases at all.
The IMF, which has previously urged El Salvador to reconsider its national Bitcoin strategy, alleges that recent wallet movements are internal transfers, not actual purchases.
According to a statement released by the organization, “The apparent acquisition of BTC by El Salvador’s government stems from shuffling existing assets between wallets—resulting in no net gain.”
John Dennehy, founder of My First Bitcoin, echoed this view:
“What we’re seeing is misleading. These transfers are internal account activities framed as new buys, but they do not reflect a real increase in the country’s Bitcoin reserve.”
The IMF also criticized the Chivo Wallet system, El Salvador’s state-run Bitcoin platform, arguing that it lacks real-time reserve tracking.
This delay in data synchronization, the IMF contends, further muddles transparency around El Salvador’s actual Bitcoin balance.
Despite the controversy, El Salvador’s Bitcoin Office is standing by its numbers. Stacy Herbert, Director of the office, insists that the acquisitions are legitimate and part of a broader strategy to normalize Bitcoin within the country’s economy and institutions.
In a recent statement, Herbert said:
“We are building Bitcoin from the ground up—with education, infrastructure, and long-term adoption in mind. This isn’t just about numbers on a ledger. It’s about creating a new economic foundation for future generations.”
While external critics focus on the financial implications, El Salvador continues to drive forward with nationwide Bitcoin education programs, signaling a grassroots strategy for adoption.
Among the key initiatives:
Node Nation: Teaching high school students how Bitcoin works.
Bitcoin Diploma: A structured curriculum rolled out across multiple institutions.
CUBO+: A tech talent accelerator aimed at nurturing young Bitcoin developers.
ESIAP: A government-wide program training over 80,000 civil servants in Bitcoin fundamentals and applications.
According to Herbert, these programs are laying the foundation for what she calls a “Bitcoin-native generation” in El Salvador.
“You can’t lead a Bitcoin revolution with spreadsheets. You need real-world understanding—and that’s exactly what we’re building,” she noted.
El Salvador Bitcoin policy continues to divide global opinion. Proponents see the Central American country as a pioneer boldly experimenting with decentralized finance.
Critics, led by institutions like the IMF, warn of fiscal instability, transparency concerns, and potential conflicts with international financial agreements.
While the IMF remains firm in its stance, the Salvadoran government is showing no signs of retreating. In fact, with each controversial purchase, President Nayib Bukele’s administration appears more resolute.
“Whether it’s one Bitcoin or one thousand,” said Dennehy, “El Salvador is sending a message: they’re playing the long game.”
At the heart of the debate is a deeper issue: financial sovereignty vs. institutional compliance. El Salvador’s embrace of Bitcoin is as much a statement about self-determination as it is about digital currency.
While the IMF pushes for clarity and accountability, the Salvadoran government insists it has every right to manage its reserves as it sees fit—even if that means defying traditional frameworks.
El Salvador Bitcoin strategy is once again proving that the tiny nation is willing to defy global norms to chart its own financial future.
Whether this move will pay off in the long run—or bring new headaches—remains to be seen. But one thing is certain: El Salvador’s Bitcoin journey is far from over.
El Salvador Bitcoin adoption keeps defying global pressure. The El Salvador Bitcoin strategy has sparked debate, yet the government insists El Salvador Bitcoin plans are rooted in long-term vision.
As critics question the El Salvador Bitcoin transparency, the administration pushes education and innovation.
Whether genius or gamble, El Salvador Bitcoin remains a bold chapter in financial history—and it’s far from over.
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