El Salvador Buys More Bitcoin Amid IMF Dispute, Reinforces National Crypto Education Push

El Salvador has quietly expanded its Bitcoin reserves again, purchasing 8 BTC worth nearly $950,000—despite the International Monetary Fund (IMF) claiming no such acquisition took place.

The July 24 update from El Salvador’s Bitcoin Office revealed the new purchase was made at an average price of $118,549 per coin. With this latest addition, the country's publicly disclosed Bitcoin holdings rise to around 6,248 BTC, currently valued at approximately $740 million.

However, this move directly contradicts a recent assertion from the IMF, which alleged that El Salvador had made no new purchases and was merely transferring Bitcoin between internal wallets. According to the IMF, such activity gives the illusion of accumulation without actually increasing the country’s crypto reserves. The organization also pointed to outdated tracking mechanisms within the national Bitcoin wallet infrastructure, warning that the system fails to reflect reserve updates in real time.

John Dennehy, founder of Bitcoin education initiative My First Bitcoin, echoed the IMF’s skepticism, suggesting that internal wallet movements were being misrepresented as fresh buys.

Despite the criticism, Salvadoran officials have doubled down on their long-term Bitcoin vision, especially in education. Stacy Herbert, Director of the National Bitcoin Office, highlighted a series of growing initiatives: from Node Nation for high schoolers and the Bitcoin Diploma to the CUBO+ program for tech-driven youth. Additionally, over 80,000 government employees are undergoing training through the ESIAP curriculum.

While the government has yet to formally respond to the IMF’s claims, its actions suggest a commitment to reinforcing Bitcoin as both a financial and educational cornerstone of the nation's future—despite persistent concerns over transparency and international financial compliance.