{"id":94,"date":"2025-12-24T12:15:57","date_gmt":"2025-12-24T12:15:57","guid":{"rendered":"https:\/\/1stblock.info\/?p=94"},"modified":"2025-12-24T12:15:58","modified_gmt":"2025-12-24T12:15:58","slug":"el-salvador-in-advanced-talks-to-sell-chivo-bitcoin-wallet-following-imf-pressure","status":"publish","type":"post","link":"https:\/\/1stblock.info\/?p=94","title":{"rendered":"El Salvador in Advanced Talks to Sell Chivo Bitcoin Wallet Following IMF Pressure"},"content":{"rendered":"\n<p>The International Monetary Fund (IMF) has confirmed that negotiations for the sale of El Salvador\u2019s state-run <strong>Chivo Bitcoin wallet<\/strong> are &#8220;well advanced.&#8221; This move appears to be a major step in the ongoing dialogue between the country and the global lender regarding its adoption of cryptocurrency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The IMF Loan and the Sale of Chivo<\/h3>\n\n\n\n<p>The mission chief for the IMF in El Salvador revealed that selling the government-managed e-wallet is part of a broader strategy to restructure the nation&#8217;s Bitcoin project. This development follows a significant financial agreement:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Financial Support:<\/strong> In May, a deal was reached for a <strong>$1.4 billion loan<\/strong> agreement, with a recent payment of <strong>$120 million<\/strong> issued to El Salvador.<\/li>\n\n\n\n<li><strong>Conditions of the Deal:<\/strong> As part of this arrangement, the government is expected to &#8220;wind down&#8221; its involvement in the Chivo wallet and restrict public sector engagement with Bitcoin-related economic activities.<\/li>\n\n\n\n<li><strong>Voluntary Acceptance:<\/strong> The agreement also stipulates that private sector acceptance of Bitcoin should remain strictly voluntary.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Conflicting Reports on Bitcoin Purchases<\/h3>\n\n\n\n<p>One of the most contentious points of the IMF agreement is the requirement for El Salvador to stop acquiring Bitcoin. However, there are conflicting reports on whether this is actually happening:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The IMF\u2019s View:<\/strong> The Fund reported in July that the government had not purchased any Bitcoin since December 2024.<\/li>\n\n\n\n<li><strong>The Bitcoin Office&#8217;s View:<\/strong> Contrasting this, El Salvador\u2019s official Bitcoin Office continues to announce major acquisitions, including a purchase of <strong>1,090 BTC<\/strong> (approx. $100 million) in November.<\/li>\n\n\n\n<li><strong>Bukele&#8217;s Stance:<\/strong> President Nayib Bukele remains defiant, stating as recently as March that the government would continue its strategy of buying <strong>at least one BTC every single day<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Current State of El Salvador\u2019s Bitcoin Strategy<\/h3>\n\n\n\n<p>Despite the ongoing negotiations to sell Chivo, Bitcoin remains a core part of El Salvador&#8217;s financial identity since it was recognized as legal tender in 2021.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Total Holdings:<\/strong> According to data from the national Bitcoin Office, El Salvador currently holds <strong>7,509 Bitcoin<\/strong>, valued at approximately <strong>$659 million<\/strong>.<\/li>\n\n\n\n<li><strong>Uncertainty:<\/strong> It remains unclear how President Bukele\u2019s commitment to daily purchases will affect the final terms of the IMF\u2019s $1.4 billion loan package or the eventual sale of the Chivo infrastructure.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has confirmed that negotiations for the sale of El Salvador\u2019s state-run Chivo Bitcoin<\/p>\n","protected":false},"author":2,"featured_media":95,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-94","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-news"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/94","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=94"}],"version-history":[{"count":1,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/94\/revisions"}],"predecessor-version":[{"id":96,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/94\/revisions\/96"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/media\/95"}],"wp:attachment":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=94"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=94"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=94"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}