TL;DR:
- El Salvador’s National Bitcoin Office denied that the government is pivoting toward stablecoins, saying it has no plans to launch or operate any Bitcoin, crypto or stablecoin wallet.
- The clarification follows the sale of Chivo Wallet to a private operator and controversy around Sivar, a stablecoin-based remittance application operating on Base.
- El Salvador added 30 BTC over 30 days, bringing its reserve to 7,790 BTC worth more than $652 million.
El Salvador has rejected claims that it is shifting its digital-asset strategy from Bitcoin toward stablecoins. In an official statement, the National Bitcoin Office said the government has no plans to launch or operate any Bitcoin, crypto or stablecoin wallet, adding that state involvement ended with the recent sale of Chivo Wallet to a private operator. The clarification separates the government’s Bitcoin strategy from privately operated payment products using stablecoins, countering the idea that a new wallet represents an official policy pivot.
This is fake news. https://t.co/RuTQPIDWhY
— The Bitcoin Office (@bitcoinofficesv) September 29, 2026
Bitcoin Reserve Keeps Growing Despite Wallet Exit
The dispute emerged around Sivar, a remittance application operating on Base and settling transfers through stablecoins. The service offers identity-verified accounts and lets U.S. residents send money to El Salvador for a flat $2 fee regardless of transfer size. Its use of stablecoins had fueled claims of a broader government transition away from Bitcoin. The Bitcoin Office’s response draws a line between private payment infrastructure and direct state involvement in crypto wallets, an important distinction after the privatization of Chivo Wallet.
That distinction also matters because El Salvador’s national Bitcoin holdings continue to rise. The government added 30 BTC over a 30-day period, bringing the reported sovereign reserve to 7,790 BTC, valued at more than $652 million with Bitcoin trading below $84,000. The growing reserve contrasts with the suggestion that El Salvador is abandoning Bitcoin as a strategic asset, keeping attention on El Salvador’s Bitcoin reserve strategy and its longer-term direction.
The latest denial follows another dispute over the country’s Bitcoin policy. President Nayib Bukele previously rejected claims that El Salvador had transferred control of its strategic Bitcoin reserve to a private operator, saying only Chivo Wallet shares had been transferred. The government continues to distinguish ownership of its Bitcoin reserve from the operation of retail wallet infrastructure, even as those two elements have become increasingly separate parts of the country’s crypto framework.
That separation creates a more nuanced picture than a simple Bitcoin-versus-stablecoin shift. Stablecoin-based services can operate in El Salvador without replacing Bitcoin in the government’s treasury strategy, while private operators can handle wallet infrastructure after the state’s exit from Chivo. The reserve’s continued expansion also fits the broader evolution of El Salvador’s sovereign Bitcoin experiment. For now, the official position remains clear: the government denies a stablecoin pivot while its reported Bitcoin holdings continue climbing.
