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El Salvador agrees with IMF to stop buying bitcoin and shift control of 7,763 tokens worth over $632 million

AI Market Summary
El Salvador's government, under an IMF agreement, committed to stop additional bitcoin purchases and transferred majority ownership and control of 7,763 BTC (~$632m) to a private operator. The move signals a meaningful policy reversal from the 2021 adoption of BTC as legal tender and reduces a high-profile sovereign accumulation narrative. In the near term, it may weigh on sentiment by highlighting political and institutional constraints on state-level BTC adoption.
Impact level
● Medium
Affected assets
BTC/USDT+0.02%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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El Salvador’s government has agreed with the International Monetary Fund (IMF) to stop purchasing additional bitcoin and to transfer the majority ownership and control of more than 7,763 tokens, valued at over $632 million, to a private operator. The move marks a major shift from the country’s policy since bitcoin was made legal tender in 2021. The decision came after the policy faced opposition from 71% of the population and saw very limited real-world use.
BTC
BTC+0.02%
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