El Salvador has been parading daily bitcoin buys like clockwork. One coin a day. Everyday. No matter what the IMF says. President Bukele even declared we are never stopping.
But what if it’s all a lie? A bombshell IMF report dropped and it claims those so-called purchases El Salvador is bragging about. They never happened. Just smokes. Mirrors. And wallet shuffling. 
Is this the unraveling of Bitcoin’s flagship nation? Or is the IMF taking a page straight out of Confessions of an Economic Hitman, executing another reputational hit on a nation that dared defy their control. And while the accusations fly, Bukele is doing something no one expected. Teaming up with another IMF controlled nation to spread bitcoin adoption.
So are we witnessing betrayal or brilliance. Keep an open mind as I walk you through the players and global stakes involved in this unfolding drama.
Bitcoin is a threat to the IMF. That’s why they despise it so much and are trying as much as possible to stop its adoption.
The IMF has been on the necks of Pakistan and El Salvador two Bitcoin nations that are in their debts.
The IMF doesn’t want these countries to pile into bitcoin, and they are trying as much as possible to stop it because if these countries keep piling into bitcoin and get to the point where they can actually repay their debt, it is an asset off their balance sheet and they have no control over them any longer.
There is only one goal for the IMF here which is to rehub and refinance these countries to keep them in debt and leashed like dogs.
On July 15 2025,the IMF released a report stating that El Salvador hasn’t bought any bitcoin since February 2025, when its loan agreement commenced, directly contradicting statements from the country’s president Nayib Bukele and his bitcoin office.
The report was signed by two of the country’s top finance officials: central bank president Douglas Pablo Rodriguez Fuentes and minister of finance Jerson Rogelio Posada Molina.
The report further stated that the increases in wallet balances that caused the hype were merely funds being consolidated from multiple government owned wallets. The illusion of increased bitcoin holdings likely comes from movements between internal wallets, creating a fake image of daily purchases without actual market activity.
This revelation comes as a surprise, given president Bukele’s passionate advocacy for bitcoin and his portrayal of El Salvador as a trailblazer in bitcoin’s adoption.
PAKISTAN-EL SALVADOR DEAL
Two heads are better than one, or more accurately, two bitcoin nations are stronger together.
Another event unfolded on July 16, 2025, with Pakistan and El Salvador have agreed to establish formal cooperation on bitcoin and blockchain initiatives, following a high-level meeting between Minister of State for Crypto and Blockchain Bilal Bin Saqib and Salvadoran President Nayib Bukele in San Salvador.
The meeting led to the signing of a Letter of Intent (LoI) between both parties. The agreement aims to facilitate technical cooperation and knowledge exchange in key areas such as public sector applications of bitcoin, blockchain-based financial inclusion, sovereign digital asset reserves, and regulatory innovation in emerging economies.
We are witnessing two nations who are in IMF’s debt trying to adopt bitcoin at all cost despite the danger behind it.
What do you think the IMF will do next?
