IMF slaps back: El Salvador has not bought any Bitcoin since February this year, but Bukele says they have?

The latest IMF report reveals that El Salvador has not purchased any Bitcoin since February and has amended laws to take a cautious approach in order to secure a $1.4 billion loan. So where is El Salvador's continuously growing BTC coming from? (Background: Germany 'missed gains on Bitcoin' losing $3 billion! El Salvador's HODL unrealized gains have reached $400 million) (Context: Trump's latest financial report: Last year earned $57.35 million from WLFI, profiting not only from crypto assets but also from merch) El Salvador's President Bukele ( Nayib Bukele ) once shouted "buy 1 BTC daily," shaping an image of steadfastly embracing crypto assets. However, the International Monetary Fund ( IMF ) this week reported that this first country in the world to adopt Bitcoin as legal tender has not added any Bitcoin since February 2025. According to The Block, the document co-signed by El Salvador's Central Bank President Douglas Pablo Rodríguez Fuentes and Finance Minister Jerson Rogelio Posada Molina confirms: According to the commitments of the plan, the Bitcoin holdings of the public sector remain unchanged, and we are taking measures to mitigate fiscal risks by reducing the public sector's role in the Chivo Wallet and restructuring the Bitcoin project. This has impacted the outside world's imagination of El Salvador's "continuing to increase the position" strategy... The discrepancy between official statements and blockchain data is particularly stark when compared to Bukele's earlier declarations on social media. He previously emphasized: "No, it will not stop... If it didn't stop when the world was rejecting us and most of the 'Bitcoin supporters' abandoned us, it won't stop now, and it won't stop in the future." Extended reading: IMF warns El Salvador's Bitcoin actions: Aid conditions raise the 'no increase in BTC' red line. As for why on-chain records are still increasing, reports indicate that the daily transfers shown in on-chain data may be due to the merging of internal government wallets rather than actual market purchases. Additionally, to enhance transparency, El Salvador has provided all addresses to the IMF and is undergoing continuous audits, meaning any additional purchases would be immediately exposed. However, according to data from bitcoin.gob.sv, El Salvador currently holds about 6,243 BTC, equivalent to about $740 million, and has indeed been increasing the position at a rate of one coin daily in recent months. As of the time of publication, El Salvador’s officials have yet to respond to this. Are they really continuing to increase their Bitcoin position, or are they just consolidating historically purchased Bitcoin? This entire incident has become a case of Rashomon... The abrupt policy shift caused by the $1.4 billion credit mechanism. The key reason El Salvador has stopped buying Bitcoin is the $1.4 billion extended credit mechanism approved by the IMF in January 2025. In order to secure aid and stabilize forex and debt pressures, El Salvador's Congress quickly amended the Bitcoin law: changing "mandatory acceptance" by merchants to "voluntary acceptance," while also prohibiting the use of public funds for new Bitcoin purchases and requiring the public sector to gradually withdraw from the state-operated Chivo Wallet by the end of July 2025 to meet the IMF's loan conditions. Related reports: Israel bombs Iran's natural gas field for the first time, even demanding US troops! How did Trump respond? During Trump's era, officials trading crypto assets were innocent! The bill "CLARITY Act" banning self-serving provisions was blocked by the White House. Trump boasts: The immigrant golden card attracted 15,000 wealthy people to register overnight, bringing $75 billion in revenue to the US. <IMF debunked: El Salvador has not bought any Bitcoin since February this year, but Bukele claims there were purchases?> This article was first published in BlockTempo, "The Most Influential Blockchain News Media."