El Salvador has quietly added more Bitcoin to its national treasury, despite a recent contrary statement from the International Monetary Fund (IMF).
The country's latest move shows continued support for its Bitcoin-friendly policy, even as external pressure increases.
El Salvador's Bitcoin Reserve Figures Face IMF Doubts
On 24/07/2025, the Bitcoin Office of El Salvador confirmed purchasing an additional 8 BTC, valued at approximately 948,392 USD. The announcement indicates the coins were bought at a medium price of 118,549 USD per coin.
This raises the total publicly reported Bitcoin of the country to around 6,248 BTC—currently valued at approximately 740 million USD.
However, this information contradicts a recent statement from the IMF. The organization claims that El Salvador has not purchased any new Bitcoin.
El Salvador's Bitcoin Purchase as Declared by the Government. Source: Bitcoin OfficeAccording to the IMF, the country has been transferring coins between wallets instead of making new purchases. They argue that these internal transfers create an illusion of accumulation, while the total BTC holdings remain unchanged.
The IMF also noted that the national Bitcoin wallet system does not accurately update reserve figures in real-time, leading to further confusion.
John Dennehy, founder of the Bitcoin education project 'My First Bitcoin', supports this view. He described recent wallet activity as "misleading," arguing that internal account transfers are being treated as new purchases without increasing total holdings.
The El Salvador government has not yet officially responded to the IMF's statement. However, they continue to emphasize their broader Bitcoin strategy, especially in education.
Stacy Herbert, Director of El Salvador's Bitcoin Office, points to an increasingly growing list of national programs aimed at enhancing Bitcoin understanding.
These programs include initiatives such as Node Nation for high school students, the Bitcoin Diploma program, and CUBO+, which attracts young tech talent nationwide. Over 80,000 public officials are also being trained under the ESIAP program.
This means that El Salvador continues to position itself as a Bitcoin adoption pioneer. However, questions about transparency and compliance with international financial agreements remain.
