The International Monetary Fund has confirmed negotiations to sell El Salvador’s state-run Chivo bitcoin wallet.
The IMF said discussions with Salvadoran authorities are well advanced.
Talks form part of ongoing engagement over El Salvador’s bitcoin policies.
The statement followed a broader financing agreement reached earlier this year.
Under the deal, the IMF committed one hundred twenty million dollars.
The funding forms part of a wider one point four billion dollar loan package.
Conditions included scaling back the government’s direct involvement in bitcoin.
Authorities agreed to wind down participation in the Chivo wallet.
Public sector bitcoin-related economic activity was to be confined.
Private sector bitcoin acceptance was to remain voluntary.
The IMF said there were separate discussions regarding bitcoin purchases.
It remains unclear whether the government is fully complying.
The IMF reported in July that no bitcoin had been bought since December.
El Salvador’s Bitcoin Office has continued to announce purchases publicly.
In November, officials disclosed buying over one thousand bitcoin.
Those purchases were valued at roughly one hundred million dollars.
The Chivo wallet was launched after bitcoin became legal tender.
El Salvador adopted bitcoin as legal tender in twenty twenty one.
The policy was strongly championed by President Nayib Bukele.
Bitcoin acquisitions were framed as a national investment strategy.
The IMF has repeatedly raised concerns over financial stability.
Negotiations aim to reduce risks linked to public sector exposure.
A spokesperson said details of the Chivo sale remain confidential.
The IMF declined to comment further on transaction specifics.
El Salvador currently holds more than seven thousand bitcoin.
Those holdings are worth hundreds of millions at current prices.
Official data places reserves at seven thousand five hundred nine bitcoin.
Market value stood near six hundred sixty million dollars.
Bukele has publicly rejected claims of halting purchases.
It’s not stopping.
Nayib Bukele said.
He reiterated plans to buy at least one bitcoin daily.
The president’s comments raised questions about IMF conditions.
Observers remain uncertain how the stance affects loan compliance.
The bitcoin strategy has drawn global attention and criticism.
Supporters view it as a long-term financial experiment.
Critics warn of volatility and fiscal exposure risks.
The Chivo wallet has faced technical and adoption challenges.
Usage declined after initial incentives faded.
Selling the wallet could mark a policy shift.
Talks suggest a compromise between bitcoin ambitions and IMF oversight.
The outcome may shape El Salvador’s future digital asset role.
At the time of reporting, Bitcoin price was $87,051.77.