IMF Labels Bitcoin ‘Digital Gold’? Not So Fast, Says Expert

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 such as, “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 new rules (BPM7) add BTC to global money tracking. Like gold or land, if you buy or sell Bitcoin across borders, it’s tracked like trading property.”

Is The IMF Endorsing Bitcoin?

Even prominent 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 own reserves and will soon include BTC in their SDR basket/index as well.”

However, a closer 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. According to Dennis Porter, CEO & co-founder of Satoshi Act Fund, the rumors stemmed from a line describing “new digital assets designed to be used as a means of payment or act as a store of value.”

In Porter’s words, it was “a massive stretch” to interpret this as the IMF declaring BTC to be “digital gold,” though he saw it as a sign the IMF recognizes the intended roles of various crypto assets.

“Ok I’ve tracked down why people are claiming the IMF said Bitcoin is digital gold. […] This is a massive stretch to jump to: ‘IMF says BTC is digital gold.’ The key phrase is ‘designed to be’. A 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 entire report. A key section of the BPM7 manual explains that “crypto assets without a counterpart liability designed to act as a medium of exchange (e.g., Bitcoin) are treated as nonproduced nonfinancial assets and recorded separately in the capital account; those with a corresponding liability are treated as financial assets.”

In practice, this categorization treats BTC similarly to property or commodities, rather than endorsing it as a new form of gold. The report specifically references BTC several times—often alongside examples like stablecoins and NFTs—to illustrate how these assets should be recorded and tracked in international accounts. For instance, one passage notes that “one Bitcoin is equal to any other Bitcoin and can be divided into equal pieces,” placing emphasis on BTC’s fungibility rather than labeling it as a precious metal.

Another segment clarifies that “new digital assets” might be used either as a payment method or as a store of value but does not elevate BTC to the status of an official monetary reserve. In fact, nowhere in the report does the IMF suggest it will add BTC to its reserves or include the cryptocurrency in the SDR basket.

Instead, the IMF’s updated guidelines reflect a growing need to classify and document cross-border crypto flows with greater precision. By highlighting BTC’s status as a “nonfinancial asset,” the manual acknowledges both 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 in the nuanced language of the actual report.

At press time, BTC traded at $86,889.