President Nayib Bukele publicly criticized media coverage by Spanish outlet El País over reports claiming El Salvador transferred its strategic Bitcoin holdings to a private operator. The dispute arose following an agreement with the International Monetary Fund (IMF), which the publication cited to report that the government had yielded control of more than 7,763 Bitcoins valued at over $632 million.
Setting the record straight on social media platform X, Bukele clarified that the transaction involved only the shares of Chivo, the state-backed wallet service, rather than the country’s actual crypto reserves. Rejecting the article’s conclusions as blatant misinformation, Bukele stated, “I don’t usually respond directly to so much fake news, but this seemed like a good example of how these ‘journalists’ and media outlets lie shamelessly to their readers.”
To substantiate his pushback, the Salvadoran president directed readers to the official IMF announcement detailing the 2nd and 3rd reviews under the Extended Fund Facility (EFF) arrangement. He emphasized that transferring ownership of Chivo had been proposed over a year and a half ago, reiterating that the national Strategic Bitcoin Reserveremains fully intact under state jurisdiction.
Beyond addressing the Bitcoin dispute, Bukele pointed to El Salvador’s broader economic progress noted in the fiscal evaluation. He highlighted that the nation achieved a primary fiscal surplus, expanded investor confidence, and drove down poverty rates through improved public services and enhanced national security measures.