President Bukele denies El Salvadorian government transferred 7,763 BTC reserves to private operator; IMF clarifies concern relates to Chivo wallet, not strategic holdings.
Regulation & Gov ·
President Nayib Bukele has disputed claims that El Salvador's government shifted control of over 7,763 BTC from its state reserves to a private operator, according to a report that Bukele rejected. The dispute centers on whether the transaction involved the nation's strategic Bitcoin holdings or a separate entity.
The International Monetary Fund has since weighed in to clarify the nature of the arrangement in question. According to the IMF's latest position, the transfer of majority ownership and day-to-day operational authority to a private party applies specifically to the Chivo wallet—a government-backed payment platform—rather than El Salvador's core Bitcoin reserves held for national strategy.
The distinction leaves unresolved the broader question of governance and oversight surrounding the Chivo wallet's operations and the implications for El Salvador's cryptocurrency policy framework. Neither the government nor the IMF statement has addressed what prompted the operational shift or the identity of the private operator now involved.