IMF report says El Salvador has not made any new Bitcoin purchases, only integrated existing holdings

On July 20 (UTC+8), according to TheBlock, El Salvador has not purchased Bitcoin since February 2025, according to a letter signed by the president of El Salvador's central bank and its finance minister. The letter was part of a recent International Monetary Fund (IMF) compliance report. This statement contradicts statements from President Nayib Bukele and his Bitcoin office, which claims that the country's Bitcoin reserves are approximately 6,242 coins, worth approximately $737.00 million, and that it still insists on increasing its holdings by one Bitcoin per day. Arkham data also supports El Salvador's record of increasing its holdings by 1 Bitcoin per day, with most of these transfers coming from addresses labeled as Binance or Bitfinex hot wallets. However, the International Monetary Fund (IMF) compliance report suggests that these transaction records may not be new purchases, but rather the El Salvadorian government consolidating its existing Bitcoin holdings. The IMF report noted in a footnote: "The increase in Bitcoin holdings in the strategic Bitcoin reserve fund reflects the government's consolidation of Bitcoin from multiple held wallets." [MetaEra]