The IMF has revealed El Salvador isn’t buying more bitcoin (BTC) despite claims from its BTC office, but rather topping up its holdings with BTC from various other government wallets.
That’s according to a footnote in the IMF’s review of the Extended Fund Facility (EFF) that states, “Increases in Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin across various government-owned wallets.”
The IMF’s “Extended Fund Facility” gave El Salvador a $1.4 billion loan and was approved last February. Loan conditions stipulated that El Salvador’s government, run by the tyrannical bitcoin maximalist Nayib Bukele, should wind down its BTC buying operations.