Bukele denies El Salvador moved bitcoin reserve

President Nayib Bukele denied that El Salvador transferred its bitcoin reserve after online claims suggested funds were moved. In a post on X, he rejected reports that the government sent bitcoin out of official wallets and wrote that the country’s holdings were intact and that apparent blockchain activity did not amount to a transfer.

Observers flagged blockchain records they thought were linked to wallets used for state purchases. Those on-chain signals prompted questions about whether the government sold or reallocated bitcoin. The presidency responded to the alerts, saying the transactions did not change the state’s reserve.

The government has publicly tracked and announced past purchases and holdings. Bukele has frequently commented on the country’s bitcoin balance and acquisition strategy. In denying the reported transfer, his office reiterated that the state continues to manage its crypto assets under existing policy and that no disposition of the reserve has occurred.

El Salvador made bitcoin legal tender in 2021 and launched a government-backed wallet to facilitate use. Credit agencies, international financial authorities and private investors have watched the country’s bitcoin policy because price swings can affect public finances.

Authorities urged citizens and investors to rely on formal statements from the presidency and the finance ministry instead of unverified online reports. Bukele ended his post with: “The holdings are intact and remain under state control.”