El Salvador is set to receive $120 million from the International Monetary Fund (IMF) as part of a $1.4 billion loan deal.
However, the funds will only be delivered if the country meets specific conditions related to its use of Bitcoin
According to the IMF, El Salvador must stop increasing its Bitcoin holdings and fully step away from managing the government-backed Chivo wallet by the end of July.
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The IMF stated that these steps are necessary to mitigate financial risks. In a statement on May 27, it explained that the total amount of Bitcoin held by state-owned wallets should remain the same going forward.
The original $1.4 billion loan deal was approved in December 2024 and runs for 40 months. Since then, the IMF has repeatedly called on El Salvador to limit its involvement with Bitcoin.
Despite these warnings, El Salvador’s President Nayib Bukele has continued with the country’s plan to purchase one Bitcoin every day. After the IMF’s latest statement, the official Bitcoin Office in El Salvador posted on X to confirm another purchase.
A public tracker shows that the country has added 30 new Bitcoins over the last month. In total, El Salvador currently holds 6,190.18 BTC.
Recently, David Sacks said at the Bitcoin 2025 conference that the US government could potentially increase its Bitcoin holdings. How would that work? Read the full story.
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