IMF says El Salvador in talks to sell state-run Chivo Bitcoin wallet

cointelegraphPublished on 2025-12-23Last updated on 2025-12-23

Abstract

The International Monetary Fund (IMF) has confirmed that El Salvador is in advanced negotiations to sell its state-run Chivo Bitcoin wallet. This move is part of the country’s ongoing discussions with the IMF regarding its Bitcoin policies, following a May agreement in which El Salvador committed to stop acquiring Bitcoin in exchange for a $1.4 billion loan. Despite the deal, the government, led by President Nayib Bukele, has continued to announce Bitcoin purchases, including a $100 million acquisition in November. As of Monday, El Salvador holds 7,509 BTC, worth approximately $659 million. Bukele has publicly stated that the country will continue buying at least one Bitcoin daily, raising questions about compliance with the IMF agreement.

The International Monetary Fund’s mission chief for El Salvador issued a statement confirming that government authorities were proceeding with negotiations for the sale of the country’s Chivo Bitcoin wallet.

In a Monday statement, the IMF said El Salvador’s government was continuing to discuss its Bitcoin (BTC) project with the fund’s officials, and “negotiations for the sale of the government e-wallet Chivo are well advanced.” The announcement signaled that the government may be preparing to sell some or all of its crypto holdings in the Chivo wallet.

Source: IMF

The statement followed a May deal with El Salvador in which the IMF would pay $120 million as part of a 2024 loan agreement for $1.4 billion. As part of the deal, the government would stop acquiring Bitcoin.

It’s unclear whether El Salvador is abiding by the terms of the deal. Though the IMF reported in July that the country’s government had not purchased any BTC since December 2024, El Salvador’s Bitcoin Office continues to announce crypto buys, including 1,090 Bitcoin worth about $100 million in November.

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According to the terms of the IMF-El Salvador deal made public, the government would make public sector engagement of BTC-related economic activity “confined,” the private sector’s acceptance of Bitcoin would be voluntary, and it would wind down involvement in the Chivo wallet. Cointelegraph reached out to the IMF for comment but had not received a response at the time of publication.

El Salvador recognized Bitcoin as legal tender in 2021 and began acquiring the cryptocurrency as part of a strategy largely pushed by President Nayib Bukele. According to data provided by the country’s Bitcoin Office, the government held 7,509 Bitcoin as of Monday, worth about $659 million at the time of publication.

‘It’s not stopping,’ says Bukele on Bitcoin buys

Despite the reported deal between the IMF and El Salvador, Bukele said in March that the government would continue its Bitcoin investment strategy, purchasing at least one BTC daily. It’s unclear how the president’s statement could affect the IMF agreement.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

Related Questions

QWhat is the IMF's statement regarding El Salvador's Chivo Bitcoin wallet?

AThe IMF confirmed that El Salvador's government is proceeding with negotiations for the sale of the state-run Chivo Bitcoin wallet, and these negotiations are 'well advanced'.

QWhat was a key condition of the IMF's $1.4 billion loan agreement with El Salvador in May?

AA key condition of the loan agreement was that the government of El Salvador would stop acquiring Bitcoin.

QHow many Bitcoins does the Salvadoran government hold according to its Bitcoin Office, and what is their approximate value?

AAs of the time of the article, the government held 7,509 Bitcoin, which was worth approximately $659 million.

QDespite the IMF deal, what did President Nayib Bukele say about the country's Bitcoin investment strategy in March?

APresident Nayib Bukele stated that the government would continue its Bitcoin investment strategy, purchasing at least one BTC daily, saying 'It's not stopping.'

QWhat are the three main terms of the IMF-El Salvador deal regarding Bitcoin, as made public?

AThe terms were: 1) Public sector engagement in BTC-related economic activity would be 'confined'. 2) The private sector's acceptance of Bitcoin would be voluntary. 3) The government would wind down its involvement in the Chivo wallet.

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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

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