El Salvador’s $666 million Bitcoin reserve survives IMF review

El Salvador secured access to $138 million from the IMF while recommitting to limits on further state Bitcoin accumulation.The International Monetary Fund (IMF) completed the second and third reviews of the country’s $1.4 billion loan program on Oct. 1, allowing an immediate disbursement equivalent to SDR 101.96 million, or $138 million. The board also granted waivers for unmet performance criteria tied to Bitcoin accumulation after authorities took corrective measures and renewed their commitments.Those waivers keep financing flowing despite earlier breaches, while leaving the program’s direction on Bitcoin unchanged. The IMF said no further accumulation is envisaged beyond documented donations, preserving a constraint that prevents the government from resuming publicly funded purchases under the program.El Salvador currently holds about 7,794.37 Bitcoin valued at roughly $666.1 million. The size of that reserve has continued to draw attention because additions to government-linked wallets appear inconsistent with the IMF agreement.The Fund has previously distinguished between Bitcoin acquired with public money and coins received through documented donations. That distinction rema...