El Salvador's Bitcoin Reserves Remain Secure, President Bukele Denies Transfer Rumors
Responding to media speculation that El Salvador might have transferred its national strategic Bitcoin reserves to private entities, President Nayib Bukele issued a clear statement on platform X. He emphasized that the country's holdings of approximately 7,764 Bitcoins remain intact and fully under government control, with no change in ownership.
Misunderstanding Stems from Chivo Wallet Equity Restructuring
The controversy originated from an International Monetary Fund (IMF) loan assessment document, which disclosed changes in the ownership structure of El Salvador's Chivo digital wallet. The document indicated that majority ownership and daily operational control of the wallet had been transferred to a private operator, while the government retained a minority stake and custodial responsibility for user assets.
Some media outlets misinterpreted this operational shift as a transfer of the national Bitcoin treasury itself. President Bukele criticized these reports as "disinformation," noting that the proposal to adjust equity in the Chivo wallet was actually raised and discussed a year and a half ago, and the entire process is unrelated to the state's Bitcoin reserves.
IMF Report Details Source of New Bitcoin
The IMF report also clarified another key point: Bitcoin acquired by El Salvador after a certain period did not come from public funds. The report confirmed that these additional Bitcoins were obtained through private donations. This distinction further separates the nation's core assets from newly acquired assets through external channels.
Bukele's clarification and the IMF's details together paint a clearer picture: while El Salvador is commercializing the operational model of its digital wallet, the Bitcoin treasury held as a national strategic asset remains independent and secure. This provides important reassurance for investors and international observers monitoring the stability of the country's cryptocurrency experiment.