El Salvador’s Bitcoin Gains Were Donations

NEWS / Crypto

IMF says El Salvador’s recent Bitcoin buildup came from donations, not fresh state spending

Cierra Seay
Published Sep 4, 2026
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Summary:

• The IMF’s latest loan program review says Bitcoin added since its prior checkup reflected private donations, with no public funds used.
• By late June 2025 El Salvador held about 6,224 BTC; the public dashboard showed holdings exceeding 7,764 BTC, up roughly 1,540 BTC.
• On Aug. 28, the National Bitcoin Office said it had “just bought more Bitcoin” and repeated, “One BTC per day, every day.”

Where the tally sits

Bitcoin was at $79,655.11 when these figures were compiled, down 2.02% on the day, up 2.32% over the past week, and higher by 23.43% across 30 days.

What the IMF actually found

In its latest review of El Salvador’s loan program, the Fund said documents from the government indicate the Bitcoin added after the prior review came from private donations. It said no public reulation beyond those documented contributions. The IMF further noted that past shifts in El Salvador’s BTC balance were not, by themselves, proof of new state buying

Prior reviews concluded that increases in the Strategic Bitcoin Reserve stemmed from movements between wallets under government control, while minor changes in other areas were associated with Bitcoin-denominated deposits kept via Chivo. The government, the IMF noted, has “substantially unwound” its stakes in the Chivo e-wallet, explaining: “Majority ownership and operational control have been transferred to a private operator, while a minority stake and custodial responsibilities for customer assets have been retained by the government.”

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The government’s message has not changed

Despite the IMF’s framing, El Salvador continues to present itself as an active buyer. On Aug. 28, the National Bitcoin Office said it had “just bought more Bitcoin” and repeated its long-running line: “One BTC per day, every day.” President Nayib Bukele has kept up his pro-Bitcoin stance, and the government is still broadening Bitcoin education while framing the asset as integral to its long-term economic strategy.

Last year, the treasury setup shifted from a single, repeatedly used wallet to a set of multiple addresses. Officials said the redesign was in line with digital-asset security best practices and lowered the potential long-term exposure to quantum-computing threats. Those addresses are public, so anyone can verify the balance, but the system does not label which coins came from government outlays, which were donated, or which resulted from transfers among government-controlled wallets.

Why it matters to you

Here is the tension: the stash is up by more than 1,500 BTC and the daily-buy mantra keeps rolling, yet the IMF says the growth it verified did not tap public funds. Until it is clear whether “one BTC per day” reflects state-financed purchases or simply the pace of inflows into the reserve, there is a gap between the slogan and the accounting. If you track Bitcoin as a macro tell, that difference changes how you read El Salvador’s moves and what they might signal for broader adoption.

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