El Salvador, the first country to make Bitcoin legal tender, has continued to buy around 1 BTC per day. However, the IMF says the government has not used public money to buy Bitcoin since June 2025.
As a result, the IMF has approved the next $140 million payment from its $1.4 billion loan program.
This raises two key questions, where is El Salvador getting the money for its daily Bitcoin purchases, and could any of the new IMF funds be used to buy BTC?
IMF: No Public Money Used for BTC
In its September 3, 2026 announcement, the IMF said El Salvador provided documents showing that the Bitcoin accumulated since June 27, 2025
The IMF stated that “no public resources were used” for El Salvador’s recent Bitcoin accumulation. This is important because the country agreed under its IMF program not to increase its public-sector Bitcoin holdings.
The IMF is monitoring this because El Salvador entered its 40-month Extended Fund Facility (EFF) in February 2025, giving the country access to around $1.4 billion. The possible $140 million payout is not a new loan.
It is the next payment under the existing program, released after El Salvador met the IMF’s economic targets.
Even, El Salvador’s economy is performing better than expected and is forecast to grow 4.5% in 2026.
“Private Donations” Keep El Salvador’s Bitcoin Reserve Growing
The IMF has clarified that El Salvador did not use public money for its recent Bitcoin accumulation, since June 27, 2025, came from private donations.
The IMF further explained that changes in the Strategic Bitcoin Reserve Fund could come from transfers between government-controlled wallets, rather than new Bitcoin purchases.
As of September 4, 2026, El Salvador holds 7,764 BTC, currently worth around $628.3 million. The country’s total cost for these Bitcoin holdings is about $388.9 million, giving it a strong unrealized profit.
El Salvador’s average purchase price is $67,290.83 per BTC, while Bitcoin is trading around $80,983. This means the country is currently sitting on roughly $239.4 million in unrealized gains.
Will El Salvador Buy More Bitcoin?
For now, the IMF’s answer is no.
The Fund specifically said no further Bitcoin accumulation beyond documented private donations is expected.
Instead, this upcoming $140 million in funds will support economic reforms, public finances, and broader development needs as part of the country’s existing IMF program.
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