This past weekend, discussions on X suggested that the International Monetary Fund (IMF) had officially classified Bitcoin as “digital gold” in its recently updated Balance of Payments Manual (BPM7). Influential figures on social media commented, “Breaking: The International Monetary Fund (IMF) has claimed Bitcoin is digital gold,” and “This is huge. The IMF designates Bitcoin as Digital Gold. A pivotal moment. New IMF rules (BPM7) include BTC in global money tracking. Just like the trade of gold or land, buying or selling Bitcoin across borders will now be tracked as property.”
Is The IMF Supporting Bitcoin?
Max Keiser, a noted BTC proponent and investor, also weighed in, stating on X: “The IMF has officially recognized Bitcoin as de facto digital Gold. SOURCES confirm that the IMF is integrating Bitcoin into their own reserves and will soon feature BTC in their SDR basket/index as well.”
However, a more detailed examination of the 1,076-page report indicates that such bold assertions arise from a misinterpretation of the IMF’s wording concerning crypto assets. Dennis Porter, CEO & co-founder of Satoshi Act Fund, pointed out that the rumors originated from a line discussing “new digital assets designed to be used as a means of payment or serve as a store of value.”
In Porter’s opinion, it was “a significant leap” to conclude that the IMF had declared BTC to be “digital gold,” though he considered it a sign that the IMF acknowledges the intended functions of various crypto assets.
“I’ve tracked down the source of the claims that the IMF referred to Bitcoin as digital gold. This interpretation is a considerable leap: ‘IMF says BTC is digital gold.’ The crucial phrase is ‘designed to be.’ It’s encouraging to see the IMF recognizing this, but it doesn’t constitute an endorsement of Bitcoin as ‘digital gold,’” Porter stated on X.
Interestingly, Bitcoin appears five times throughout the report. A significant section of the BPM7 manual describes that “crypto assets without a counterpart liability intended to function as a medium of exchange (e.g., Bitcoin) are categorized as nonproduced nonfinancial assets and recorded separately in the capital account; those that have a corresponding liability are classified as financial assets.”
In practical terms, this categorization aligns BTC more with property or commodities rather than endorsing it as a new type of gold. The report specifically references BTC several times—often alongside entities like stablecoins and NFTs—to clarify how these assets should be documented and monitored in international accounts. One excerpt highlights that “one Bitcoin is interchangeable with any other Bitcoin and can be subdivided into equal units,” focusing on BTC’s fungibility rather than categorizing it as a precious metal.
Another section reiterates that “new digital assets” may function as either a payment mechanism or a store of value but stops short of granting BTC the status of an official monetary reserve. In fact, the IMF does not suggest at any point in the report that it plans to add BTC to its reserves or include the cryptocurrency in the SDR basket.
Ultimately, the IMF’s revised guidelines underscore the growing demand for accurate classification and documentation of cross-border crypto transactions. By recognizing BTC as a “nonfinancial asset,” the manual acknowledges both the unique function of decentralized cryptocurrencies and the necessity of monitoring their economic ramifications. However, any suggestion that the IMF has declared BTC as “digital gold” seems to stem more from social media enthusiasm than from the intricate language of the actual report.
As of press time, BTC was trading at $86,889.
Featured image created with DALL.E, chart from TradingView.com
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