The International Monetary Fund mission chief for El Salvador issued a statement confirming that government authorities are conducting advanced negotiations to sell the state-run Chivo Bitcoin wallet. This development follows the terms of a May 2024 financing agreement whereby the IMF provided $120 million to the Salvadoran government on condition that no further Bitcoin purchases would occur.
According to the IMF statement, discussions cover the potential transfer of the e-wallet infrastructure and any crypto assets held within Chivo. The report indicates that the sale could involve part or all of the approximately 7 509 BTC held in the wallet, valued at around $659 million at current market prices. Details regarding potential buyers or valuation mechanisms remain undisclosed.
Notably, El Salvador’s Bitcoin Office continues to announce bitcoin acquisitions despite the IMF deal, with reported purchases including 1 090 BTC in November. The apparent contradiction underscores tension between government strategy and funding conditions imposed by the IMF to stabilize the national economy.
Under the 2024 agreement, public sector engagement in Bitcoin-related activities must be limited, while private sector adoption remains voluntary. The sale of the Chivo wallet represents a key step toward compliance with IMF requirements and could reshape El Salvador’s approach to digital asset integration. The outcome of ongoing negotiations is expected before the end of the first quarter of 2026.
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