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Envision Nayib Bukele, El Salvador’s crypto-slinging president, launching the Chivo wallet back in September 2021 like a guide to Bitcoin riches.
Fast-forward to now, and the IMF’s got its claws out, haggling hard over torching or selling the damn thing.
Negotiations? “Well advanced,” purrs the fund in its second review of El Salvador’s 40-month Extended Fund Facility.
Transparency, public piggy bank protection, Bitcoin risk dodge, that’s the holy trinity on the table.
Safeguarding public resources, and mitigating risks
Bitcoin’s the thorny heart of this showdown. IMF’s been howling about price volatility gut-punching public finances, demanding the brakes on government BTC hoarding, purchases, mining, the works.
March ultimatum, dismantle the BTC-buying bureaucracy. Salvadoran suits caved, scaling back state meddling for that sweet financing juice.
Now, Chivo’s on the chopping block, phase-out in full swing.
“Negotiations for the sale of the government e-wallet Chivo are well advanced, discussions with regards to the Bitcoin project continue, centered on enhancing transparency, safeguarding public resources, and mitigating risks.”
Experts say close tango with authorities ahead, chasing that staff-level pact to seal the review.
GDP growth blasting near 4% this year
Bukele’s Bitcoin Office keeps the daily brag reel rolling. Latest tally, 7,509.37 BTC, ballooned to over $656 million at current prices.
Snagged another 1 BTC on December 23. Defiant? You bet, while IMF circles like a shark in the dark water.
Economy-wise, El Salvador’s definitely flexing. GDP growth blasting near 4% this year, momentum roaring into 2026.
Fiscal bulls-eyes hit, reserves swelling, domestic debt shrinking like a bad hangover. Reforms rampage is here, banking stability laws, Basel III rollout, anti-money laundering tweaks. Outperforming the crystal ball, guys.
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Volatility’s no joke when your treasury’s the piñata
IMF’s not drunk on the upside, though. Close engagement looms, a polite code for keeping Bukele’s crew on a short leash.
Chivo wallet phase-out signals the main insight, namely even Bitcoin diehards bend to IMF pressure on El Salvador Bitcoin policy, curbing public BTC risks amid IMF negotiations.
Volatility’s no joke when your treasury’s the piñata.
This grapple, nation-state vs. global fund, hints at crypto’s growing pains. Will Chivo get flogged off?
Bitcoin stash survive the purge? Or this is the end of the decentralized dreams?
Written by András Mészáros
Cryptocurrency and Web3 expert, founder of Kriptoworld
More articles
With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: December 25, 2025 • 🕓 Last updated: December 25, 2025
