El Salvador stopped buying bitcoin in December 2024 — IMF

El Salvador hasn't purchased any bitcoin since December 2024, International Monetary Fund (IMF) reports. The decision was made to adhere to a $1.4 billion loan agreement. As part of the deal, President Nayib Bukele's government agreed to reduce the state's role in managing cryptocurrency assets.

Previously, El Salvador's active bitcoin purchases impacted the market, causing price fluctuations. Now the focus has shifted to managing existing assets. Government digital wallets (including the Chivo platform) will only be used for daily transactions, not for growing crypto reserves.

As President Bukele emphasized, reducing the state’s role in the cryptocurrency sector aims to mitigate budget risks. This approach could set an example for other countries working with the IMF and exploring digital currency integration into their economies. Experts from AICryptocore share this view.