El Salvador has not made any new Bitcoin purchases since February 2025, according to a new report released by the International Monetary Fund (IMF) on July 15.The disclosure directly contradicts President Nayib Bukele’s long-standing public claim that his government has been buying one Bitcoin per day.
The IMF’s findings were included in the first formal review of the country’s Bitcoin program since El Salvador secured a $1.4 billion loan agreement in December 2024.
[...] The report noted that although on-chain activity shows BTC moving between wallets, these are not new acquisitions. Instead, the transactions reflect internal transfers between cold and hot wallets.
The IMF emphasized that these movements had led to a “misinterpretation” of El Salvador’s Bitcoin activity. Officials further argue that reallocated reserves or assets obtained through legal seizures do not qualify as state-backed Bitcoin buys.
El Salvador probably wanted to keep their image as a bitcoin friendly country. Not only do they want to appear friendly to bitcoin, it seems like they want to be a country known for having a lot of bitcoin and possibly get investors in their country. I have seen some people doubt IMF's reports but what do you think? It makes sense if bitcoin has become El Salvador's political move.
I don't know whether the statement made by the IMF is true or not. Because what I know is that since El Salvador began adopting bitcoin the IMF has always given El Salvador quite a stinging criticism. So if you look at that, it could be that the assumption said by the IMF was just a criticism for El Salvador. But, it does not rule out the possibility if the IMF is right. Because buying bitcoin every day with public funds will certainly be a little unbalanced for the country.
Because El Salvador hodl the bitcoin it buys, while what happens if the country of El Salvador needs money for its country's needs. So it is certain that with this it makes sense if El Salvador is not always able to buy bitcoin every heart. But even so, I don't think it matters if El Salvador can't afford bitcoin every day. Because that's their right and they are free to do whatever they want with the bitcoin investment they are running.