Over the weekend, speculation on X claimed the International Monetary Fund (IMF) had officially recognized Bitcoin as “digital gold” in its newly updated Balance of Payments Manual (BPM7). Popular influencers posted comments reminiscent of, “Breaking: The International Monetary Fund (IMF) has stated that Bitcoin is a digital gold,” and “Huge. The IMF calls Bitcoin Digital Gold. A turning point. IMF’s latest rules (BPM7) add BTC to global money tracking. Like gold or land, for those who buy or sell Bitcoin across borders, it’s tracked like trading property.”
Is The IMF Endorsing Bitcoin?
Even outstanding BTC advocate and investor Max Keiser joined the fray, writing via X: “The IMF has just recognized Bitcoin as de facto digital Gold. SOURCES confirm the IMF is adding Bitcoin to their very own reserves and can soon include BTC of their SDR basket/index as well.”
Nevertheless, a more in-depth reading of the 1,076-page report reveals that these sweeping claims are based on a misinterpretation of the IMF’s phrasing around crypto assets. In accordance with Dennis Porter, CEO & co-founder of Satoshi Act Fund, the rumors stemmed from a line describing “latest digital assets designed for use as a method of payment or act as a store of value.”
In Porter’s words, it was “a large stretch” to interpret this because the IMF declaring BTC to be “digital gold,” though he saw it as an indication the IMF recognizes the intended roles of assorted crypto assets.
“Okay I’ve tracked down why persons are claiming the IMF said Bitcoin is digital gold. […] It is a massive stretch to leap to: ‘IMF says BTC is digital gold.’ The important thing phrase is ‘designed to be’. A very good sign that the IMF is recognizing this but definitely not an endorsement of Bitcoin as ‘digital gold,’” Porter wrote via X.
Notably, Bitcoin is mentioned 5-times in the whole report. A key section of the BPM7 manual explains that “crypto assets with out a counterpart liability designed to act as a medium of exchange (e.g., Bitcoin) are treated as nonproduced nonfinancial assets and recorded individually within the capital account; those with a corresponding liability are treated as financial assets.”
In practice, this categorization treats BTC similarly to property or commodities, fairly than endorsing it as a latest type of gold. The report specifically references BTC several times—often alongside examples like stablecoins and NFTs—as an example how these assets needs to be recorded and tracked in international accounts. As an illustration, one passage notes that “one Bitcoin is the same as some other Bitcoin and will be divided into equal pieces,” placing emphasis on BTC’s fungibility fairly than labeling it as a precious metal.
One other segment clarifies that “latest digital assets” is likely to be used either as a payment method or as a store of value but doesn’t elevate BTC to the status of an official monetary reserve. The truth is, nowhere within the report does the IMF suggest it’ll add BTC to its reserves or include the cryptocurrency within the SDR basket.
As a substitute, the IMF’s updated guidelines reflect a growing need to categorise and document cross-border crypto flows with greater precision. By highlighting BTC’s status as a “nonfinancial asset,” the manual acknowledges each the unique role of decentralized cryptocurrencies and the importance of monitoring their economic impact. Yet, any notion that the IMF has crowned BTC “digital gold” appears to be rooted more in social media excitement than within the nuanced language of the particular report.
At press time, BTC traded at $86,889.
Featured image created with DALL.E, chart from TradingView.com
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