IMF says El Salvador in talks to sell state-run Chivo Bitcoin wallet

The International Monetary Fund (IMF) mission chief for El Salvador stated that negotiations for the sale of the government's Chivo Bitcoin wallet are "well advanced," signaling a potential move by the government to divest some or all of its crypto holdings in the wallet. This discussion follows a May deal where the IMF agreed to a $120 million payment as part of a $1.4 billion 2024 loan, contingent on El Salvador stopping Bitcoin acquisitions. While the IMF reported in July that the country had paused purchases since December 2024, El Salvador's Bitcoin Office has continued to announce crypto buys, including a $100 million purchase in November. The original IMF deal also required the government to confine public sector engagement with Bitcoin and wind down involvement in the Chivo wallet. Despite the reported agreement, President Nayib Bukele stated in March that the government would continue its strategy of purchasing at least one Bitcoin daily.

(Source：Cointelegraph)