The letter from the Central Bank of El Salvador and the statement from the Bitcoin office have discrepancies; the IMF report reveals the truth.

On July 20, according to a letter signed by the president of the Central Bank of El Salvador and the Minister of Finance, El Salvador has not purchased Bitcoin since February 2025. This letter is part of a recent compliance report from the International Monetary Fund (IMF). This statement contradicts the claims made by President Nayib Bukele and his Bitcoin office, which asserts that the country's Bitcoin reserves are approximately 6,242 coins, worth about $737 million, and continues to insist on accumulating one Bitcoin daily. Data from the data platform also supports the record of El Salvador adding one Bitcoin daily, with these transfers mostly originating from addresses labeled as belonging to a certain trading platform or a certain platform's Hot Wallet. Staci Herbert, head of the Bitcoin office, previously stated that El Salvador continues to purchase Bitcoin, disregarding the IMF protocol.

It is worth noting that the International Monetary Fund (IMF) compliance report indicates that these transaction records may not represent new purchases, but rather the El Salvadoran government's integration of its existing Bitcoin holdings. The IMF report notes in a footnote: "The increase in Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflects the government's consolidation of Bitcoin from multiple wallets."

Currently, the Bitcoin office in El Salvador has not commented on this.