El Salvador is maintaining its commitment to Bitcoin despite new measures agreed with the International Monetary Fund (IMF) that reduce the government’s direct involvement in the country’s digital-asset operations.
The National Bitcoin Office recently rejected reports of a shift toward stablecoins, describing them as “fake news” and reiterating that El Salvador remains a “Bitcoin-only country.” The office also clarified that the government has no plans to operate new Bitcoin, crypto or stablecoin wallets following the transfer of Chivo Wallet to a private operator.
The country’s “one Bitcoin a day” purchasing strategy also remains intact, with El Salvador continuing to increase its strategic Bitcoin reserve. This signals that, despite changes to the government’s role in the operation of its digital-asset infrastructure, the country continues to pursue its broader strategy of accumulating Bitcoin as a strategic reserve.
The IMF’s latest review confirms that majority ownership and operational control of Chivo have moved to a private operator, while the government retains a minority stake and custodial responsibilities for customer assets. The Fund also stated that the program does not envisage further Bitcoin accumulation beyond documented donations, highlighting the distinction between the government’s stated Bitcoin strategy and the specific commitments made under the IMF program.
For the Bitcoin community, the developments point to a changing role for the Salvadoran state rather than an abandonment of the country’s Bitcoin vision. Bitcoin education, strategic accumulation and the country’s “Bitcoin Country” identity remain part of the broader strategy, while the IMF agreement focuses on transparency, regulation and reducing direct state participation in Bitcoin-related activities.