Has El Salvador been lying to the world?

[peter0425]

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.

[Free Market Capitalist]

No way am I going to trust what the IMF says on this issue. If they have really been buying it and keeping it in cold storage, it's very easy for them to prove it. The purchases are managed by Stacy, Max Keiser's wife, who I hope will respond to this accusation soon. Although I wouldn't bet my life on it either.

[Apocollapse]

Regardless any possibility is possible, at least El Salvador show a proof if they really buy and own Bitcoin, IMF can only give words without any proof. The same thing happened to  other celebrities, influencers, entities etc, they announce if they bought Bitcoin, but they didn't show any proof and we can't even track their holdings on explorer.

This is the account to track El Salvador https://intel.arkm.com/explorer/entity/el-salvador

Two days ago there was a news if Trump Media (DJT) invest $2 Billion in Bitcoin, I search "Trump Media" or "DJT" on arkham, but nothing found, so where's the proof?

[Charles-Tim]

No way am I going to trust what the IMF says on this issue. If they have really been buying it and keeping it in cold storage, it's very easy for them to prove it. The purchases are managed by Stacy, Max Keiser's wife, who I hope will respond to this accusation soon. Although I wouldn't bet my life on it either.

Regardless any possibility is possible, at least El Salvador show a proof if they really buy and own Bitcoin, IMF can only give words without any proof. The same thing happened to  other celebrities, influencers, entities etc, they announce if they bought Bitcoin, but they didn't show any proof and we can't even track their holdings on explorer.

This is the account to track El Salvador https://intel.arkm.com/explorer/entity/el-salvador

Or we can as well think that we should not trust El Salvador. I saw Bitcoin Office post on X that they have purchased more bitcoin, this was 2 days after IMF said that the country is not purchasing bitcoin. Also I saw another post of the Bitcoin Office yesterday on X they they have purchased more bitcoin. The country have an agreement with IMF that they will not purchase more bitcoin if IMF gave the country a loan and it is an agreement. I guess there is something that El Salvador is not letting us know. Although, I do not really follow bitcoin purchase in the country which maybe might have given me a clearer view of what is happening.

[avp2306]

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.

So you believe on the manipulators rather than the country doing the best to uplift their country?

Its not surprising for IMF to run this kind of propaganda since they see that El Salvador is not in their control now. They want to destroy the reputation built by El Salvador that's why they throwing this kind of words.

I'd rather believe the country doing actions like making their people became more educated on Bitcoin than those loan sharks trying to manipulate also interfere other countries decision.

[BALIK]

I also read this news 2 days ago and to be fair it is hard to know if El Salvador is lying to us or the IMF is lying?
But I lean towards the IMF and what they say, simply because El Salvador depends on them for loans, and the survival and interests of the nation must come first.

What is the point of investing in bitcoin if the national economy is collapsing and people's lives are miserable? As president, Nayib Bukele knows that better than anyone, so I think El Salvador is lying to us. But I don't blame them because as I said, the survival and interests of the nation must come first. Not only them, I believe any of us or any country in the same situation would do the same.

[ABCbits]

I've seen this news elsewhere. But while i don't trust IMF that much, AFAIK they don't have strong reason to lie when they could critic El Salvador directly for pro-Bitcoin policy/action. El Salvador could prove they're not lying by showing purchase history on the exchange, but IMF can't just demand the exchange to hand over purcrase history of account owned by El Salvador government.

[alani123]

El Salvador is an embarrassment to the whole world. To many, bitcoin stands for freedom. But for El. Salvador it just served as a bridge to connect it with the US's establishment.

Now El. Salvador is world to one of the world's most brutal concentration camps. With thousands being gathered there without trial or due diligence. Tens of people in the same room, no rights, no dignity...

It's crazy to see the world turning to this. Concentration camps in 2025. Bitcoin didn't do shit for El. Salvador. If anyone claims the opposite they're clearly blind to all the wrongs in that country. If we attribute anything about bitcoin being associated with El Salvador it should be shame.

[Majestic-milf]

 Maybe El Salvador has finally listened to the IMF when they suggested that they should stop accumulating Bitcoin as terms of the agreement  before a loan can be given them. It's just as if they coax them into doing something and when its working how they planned it, the IMF is coming out to point fingers as if they are saints.
According to a reports there has been on chain activity showing that BTC has been moving between wallets, but the IMF are insistent that it still isn't t an indication that the country is buying anything at the moment.
 I think this thing the IMF is trying to do is to make the country look like they deceived the public but we can't tell for sure who is lying and who isn't till a proper report is given out.

[Catenaccio]

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.

Want to maintain it or not, it is not important and you should know that life is unpredictable so El Salvador can not predict everything and their initial plans can be changed many times, with adjustments to continue their plan of accumulation or completely stop their accumulation.

There is nothing  to say bad words about El Salvador if they, by reason, stop their Bitcoin accumulation entirely or slow down their accumulation from daily to weekly or just randomly.

[Lucius]

It is not fair to say that El Salvador is lying about something when it comes to one man and the ruling party who lead the country and decide on everything. Therefore, the title of this topic should have been "Is Bukele lying to the world?"

Even if he is lying and the IMF is telling the truth, I wonder why anyone outside that country would wonder whether it is true or not? The past 5 years have clearly shown that Bitcoin cannot fix decades of failed political decisions, bribery, corruption and rampant crime that led to tens of thousands of people ending up in prisons, which, as someone has already said, are more like concentration camps than prisons.

El Salvador is an embarrassment to the whole world. To many, bitcoin stands for freedom. But for El. Salvador it just served as a bridge to connect it with the US's establishment.
~snip~

It served the so-called Tether Boys and some other Americans like Samson Mow, Simon Dixon, Max Keiser and his wife Stacy Herbert to turn the country into their profit-making training ground. Apparently, in that country, they all have a special status when they ride around in military helicopters while at the same time the poverty rate is rising and Bukele has managed to put the country in debt for an additional $11 billion.

https://historico.elsalvador.com/historico/916138/bitcoin-criptomonedas-bitcoiners-volcan-conchagua-city.html

[Moreno233]

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.

If you want to make progress as a country, always do the opposite of whatever IMF says just like China did and became a super power. IMF was not created to help any nation develop but to keep them in perpetual slavery. If they help you by given you loan, open the book and look deeper and see that they are actually killing you. It was IMF that advised the new president of my country to devalue our currency, remove energy subsidy and that eventually collapsed our economy and send people to abject poverty because we are a net importing nation and depend on the dollar for everything. People are struggling to even feed because the prices of basic commodities went x5. Even if El Salvador did not purchase a single Bitcoin but claim that they did, the moment IMF countered them that they did not buy, I will believe El Salvador.

[Ishicryptic]

I've seen this news elsewhere. But while i don't trust IMF that much, AFAIK they don't have strong reason to lie when they could critic El Salvador directly for pro-Bitcoin policy/action. El Salvador could prove they're not lying by showing purchase history on the exchange, but IMF can't just demand the exchange to hand over purcrase history of account owned by El Salvador government.

IMF has made an accusation and that is their standpoint, it doesn't matter now if people trust their declaration or not it is left for El Salvador, to accept or refute the claim because it is bothering on their national integrity. As it stands now the ball is in the court of El Salvador, to decide the action to take regarding the allegation. I understand that part of the terms of loan between IMF and El Salvador, is that they will not purchase any Bitcoin, perhaps El Salvador, is keeping to the agreement which IMF is trying to make public or they are accumulating through other means. Since the matter is out in the open their is need for El Salvador, to come out and clear the air on their Bitcoin position.

[kanftka]

Honestly, if what the IMF is saying is actually true, I wouldn’t even be surprised, to be honest. Let’s be real, El Salvador probably just wanted to keep that image of being a Bitcoin friendly country just as (peter0425) said… And it feels like they’re trying to be known globally as the country that’s pro Bitcoin, that holds a lot of BTC, and in doing so, attract investors, crypto businesses, and all that hype around it. And you know what? It makes sense from a strategic standpoint.

Let me even deviate a bit: like, have you ever really sat down to think about all these countries claiming they have massive gold reserves? Haha  who’s verifying all of that? Like seriously, do you think all those gold claims are 100% real? I’m not saying none of it is true, obviously some countries might actually have what they say, but I can bet a good number of them are just making up those numbers to maintain their image and credibility on the global stage. It’s part of the political and economic game, and one of the world’s biggest secrets if we’re being honest.

Now back to El Salvador, if this IMF report is accurate and they’ve actually stopped buying since February, then let’s not act like it’s some kind of scandal or betrayal. A lot of countries do the same thing: project strength or wealth they might not currently have just to gain international respect or attract foreign investments. So why should El Salvador be called out for it? And if people want to argue otherwise, cool, then let every country show proof of their actual holdings, Bitcoin, gold, everything.

At the end of the day, all this is just politics, strategy, and perception management. That’s the game nations have been playing for decades. So yeah, maybe El Salvador just joined the club…..   Just saying though, hope you all can relate and see where I’m coming from.

[MArsland]

The IMF only wants El Salvador to comply with their rules, so any means will always be taken even by leading opinions that make the media confused between believing IMF statements or seeing the fact that El Salvador is increasingly becoming an example for other countries to get out of IMF debt. So don't be surprised if the IMF will not stop here to try to pressure El Salvador, especially in stopping bitcoin buying activities.

[Stablexcoin]

The IMF only wants El Salvador to comply with their rules, so any means will always be taken even by leading opinions that make the media confused between believing IMF statements or seeing the fact that El Salvador is increasingly becoming an example for other countries to get out of IMF debt. So don't be surprised if the IMF will not stop here to try to pressure El Salvador, especially in stopping bitcoin buying activities.

A few words is enough for El Salvador to proof it. But to be honest I dont like the idea of forcing a country to comply with them. If El Salvador is to show a prove that shuts the IMF, dont you think other countries that holds Bitcoin in treasury wont bother to comply with them any longer. Because I dont see any good reason  they will lie about owning Bitcoin when apart from the bitcoin in the government custody most of their citizens hold Bitcoin.

[Oshosondy]

I've seen this news elsewhere. But while i don't trust IMF that much, AFAIK they don't have strong reason to lie when they could critic El Salvador directly for pro-Bitcoin policy/action. El Salvador could prove they're not lying by showing purchase history on the exchange, but IMF can't just demand the exchange to hand over purcrase history of account owned by El Salvador government.

If they both have to make this known better to people, it is very possible that IMF is right. Maybe El Salvador bought some coins that people did not know before they both make any agreements. IMF said it is internal transfer which makes that possible.

It is not fair to say that El Salvador is lying about something when it comes to one man and the ruling party who lead the country and decide on everything. Therefore, the title of this topic should have been "Is Bukele lying to the world?"

Bukele did not just accept bitcoin in El Salvador but it was done through their Legislative Assembly that first accepted bitcoin. The country is not authoritarian. It can be El Salvador or their president, both are correct.

Even if he is lying and the IMF is telling the truth, I wonder why anyone outside that country would wonder whether it is true or not? The past 5 years have clearly shown that Bitcoin cannot fix decades of failed political decisions, bribery, corruption and rampant crime that led to tens of thousands of people ending up in prisons, which, as someone has already said, are more like concentration camps than prisons.

I do not know the reason people are thinking that bitcoin will fix El Salvador economy when their president or any of their government officials did not say something like that. Bitcoin is good for investment, edge against inflation if it is long term, to promote businesses and can be used for tourists attraction but not to fix economy in general. Bitcoin was not something negative in the country but it was of positive effects. Bitcoin is also a currency while not the dollar that makes the United States great.

[FortuneFollower]

The IMF only wants El Salvador to comply with their rules, so any means will always be taken even by leading opinions that make the media confused between believing IMF statements or seeing the fact that El Salvador is increasingly becoming an example for other countries to get out of IMF debt. So don't be surprised if the IMF will not stop here to try to pressure El Salvador, especially in stopping bitcoin buying activities.

They don't want others to see BTC as an option for those who may use BTC like that too: because why they would need IMF then?

[Russlenat]

But regardless, the fact that El Salvador made Bitcoin legal tender before, even with the pressure from the IMF to reverse it, is already a big move. They’ve also been buying Bitcoin consistently, which is impressive since no other country has really done that.

Maybe they weren’t fully honest about everything, but to me, that’s not a big deal.
Their contribution to pushing crypto forward outweighs that.

[fikrett]

But regardless, the fact that El Salvador made Bitcoin legal tender before, even with the pressure from the IMF to reverse it, is already a big move. They’ve also been buying Bitcoin consistently, which is impressive since no other country has really done that.

Maybe they weren’t fully honest about everything, but to me, that’s not a big deal.
Their contribution to pushing crypto forward outweighs that.

Their actions speak for themselves.

And I hope IMF won't be on their tail all the way, because clearly, they are the ones that know what to do and what to try in order to make BTC more accepted.