IMF clarifies Bitcoin’s role in global accounts

Recent speculation that the International Monetary Fund (IMF) labeled Bitcoin (CRYPTO:BTC) “digital gold” in its updated Balance of Payments Manual (BPM7) has been dismissed as a misinterpretation.

While the IMF acknowledges Bitcoin’s role as a store of value, its guidelines categorise BTC as a “nonproduced nonfinancial asset” akin to property or commodities, not a monetary reserve.

Social media claims, including those from Bitcoin advocate Max Keiser, suggested the IMF had endorsed BTC as “digital gold” and planned to include it in its Special Drawing Rights (SDR) basket.

However, the BPM7 manual’s phrasing—describing crypto assets as “designed to be used as a means of payment or act as a store of value”—was misread as an official endorsement.

Dennis Porter, CEO of Satoshi Act Fund, called the interpretation “a massive stretch,” noting the IMF’s focus on tracking cross-border crypto flows rather than elevating BTC to gold-like status.

The BPM7 manual treats Bitcoin as a nonfinancial asset, distinct from traditional currencies or financial instruments.

It emphasises BTC’s fungibility, stating that “one Bitcoin is equal to any other Bitcoin and can be divided into equal pieces,” but avoids comparisons to precious metals.

The guidelines instead aim to standardise how crypto transactions are recorded in international accounts, grouping BTC alongside stablecoins and NFTs as assets requiring precise tracking.

Despite the IMF’s neutral stance, Bitcoin’s mention in the report—five times—highlighted its growing relevance in global economic discussions.

Porter acknowledged the IMF’s recognition of crypto’s intended roles but stressed that BTC’s classification as a nonfinancial asset reflects its unique position outside traditional monetary frameworks.

The IMF’s updated guidelines underscore efforts to improve transparency in cross-border crypto transactions, aligning with broader regulatory trends.

While the manual does not endorse Bitcoin as a monetary reserve, it signals a shift toward treating decentralised assets as distinct economic entities worthy of standardised accounting practices.

At the time of reporting, the Bitcoin (BTC) price was $87,326.41.