On July 20, according to The Block, a letter signed by two senior financial officials in El Salvador stated that the country has never purchased any Bitcoin since signing a financing agreement with the International Monetary Fund (IMF) in February 2025. This is in stark contrast to the statement of the country's President Nayib Bukele and his Bitcoin Office. The letter was part of the IMF's first project review on July 15, and the letter stated that "the amount of Bitcoin held by the public sector remains unchanged." The attached document stated that El Salvador has provided the addresses of all cold and hot wallets to the IMF for review and monitoring.
However, since President Bukele announced the move in November 2022, his government has repeatedly claimed to purchase 1 Bitcoin per day. The country's Bitcoin Office claims that the country's Bitcoin reserves are about 6,242 Bitcoins (BTC), worth about $737 million. Blockchain intelligence company Arkham supports the transfer of 1 Bitcoin per day, which mainly comes from addresses marked as Binance or Bitfinex hot wallets.
President Bukele previously said that despite an International Monetary Fund (IMF) agreement that provided El Salvador with a $1.4 billion loan, it would not stop buying Bitcoin. [PANews]