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El Salvador disclosed a $100 million Bitcoin acquisition, and the question that followed was whether public funds were behind it.
The International Monetary Fund said no, attributing Bitcoin added since June 2025 to private donations rather than state spending. That answer resolves the funding question directly.
What the episode reveals about El Salvador's disclosure practices is another matter. The post-review context in the IMF's determination is the detail worth parsing.
The fund's accounting covers Bitcoin accumulated after a review of El Salvador's program, meaning the attribution was made against an existing institutional framework.
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