IMF reiterates that El Salvador has not bought more bitcoin and questions government ads

Although the Government of El Salvador recently reported a millionaire investment in Bitcoin, he IMP He insists that the Central American nation has not acquired more units in the digital currency, questioning the veracity of its ads.

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• El Salvador continues to buy BTC despite agreement with the IMP
• Bukele announces new acquisitions and celebrated the four years of the Bitcoin Law.
• However, the IMP assures that El Salvador has not bought Bitcoin As they have said.
• The contradiction generates doubts about the purchases announced by El Salvador.

He International Monetary Fund (IMF) He has reaffirmed that El Salvador is not increasing his reservations Bitcoin, Despite the official ads of the Nayib Bukele government. The agency ensures that Recent movements only reflect internal transfers and not new acquisitions, which feeds the controversy over the country’s transparency in cryptocurrency.

According to a report published by Cryptopolitan, Meera Louis, communications officer of the IMF, He affirmed that “The total Bitcoin owned by the government has not increased and that the increase in the Bitcoin reserve fund corresponds to movements between government wallets”For the organism, On-chain data and Bukele’s statements do not prove fresh purchases, but existing assets rear.

The USD agreement $ 1.4 billion and the conditions

El Salvador obtained a loan from USD $ 1.4 billion conditioned to reduce its activity with Bitcoin Already stop new purchases. This commitment sought to stabilize public finances and limit volatility risks. However, the data in chain and government communications suggest that the Central American Nation continues to incorporate BTC to his balance.

Since November 2022, Bukele had promised to buy a BTC diary. Last weekend announced the acquisition of 21 BTC additional per USD $ 2.3 million to celebrate the fourth anniversary of the Bitcoin Law. According to the Bitcoin office from the country, El Salvador currently has 6,318 BTC for a value close to USD $ 726.8 million and has added 28 BTC In the last 7 days and 51 BTC Since last month.

Contradictions and lack of traceability

He IMP He maintains that These figures are not verifiable as new purchases. The Salvadoran government, however, maintains that BTC They continue to enter their purses daily from platforms such as Binance and Bitfinex Until recently, transparency on these operations was limited to the president’s tweets, in which he joked about having bought BTC “From your phone in the bathroom.”

The firm Bublemaps partially coincides with the IMP and warns that you can’t know when the Bitcoins transferred today. According to your analysis, the BTC They could have bought before the agreement with the agency in 2024 and have remained asleep in exchanges before being sent to public purses. He also noted that the movements could be designed to look like fresh purchases without being.

Criticism of Bukele’s management

James Bosworth, founder and CEO of HXagon, He questioned the lack of transparency and suggested that Bukele could be moving digital assets to simulate operations in what he called a kind of “Wash Trade “ governmental. He stressed that the Bitcoins They are state resources and should not be managed as personal portfolios of the president.

In March, Bukele had already declared that he would continue to buy Bitcoin despite the agreement with the IMP “If the acquisitions did not stop when the country was marginalized internationally, they will not stop now ”said. This challenging position reinforces the tension with the multilateral body and calls into question the effectiveness of the signed agreement.

Context and major conflict

El Salvador became 2021 in the first country in the world to adopt Bitcoin as legal tender, attracting global attention and criticism of international organizations. He IMP It considers that the program is a financial risk for the nation and demands more transparency and control. For Bukele, on the other hand, keep purchases of BTC It represents economic sovereignty and betting in the long term.

On July 15, a letter signed by the president of the Central Bank, Douglas Pablo Rodríguez Fuentes, and the Minister of Tax authorities, Jerson Rogelio Posada Molina, revealed that El Salvador delivered to the IMP The addresses of all its cold and hot purses for review. However, the agency maintains that the total amount of Bitcoins In the public sector it still does not change, reinforcing its argument that there are no new purchases.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, freely used, licensed under public domain

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