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Did the IMF Just Label Bitcoin as ‘Digital Gold’? Dennis Porter Responds

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Nidhi Kolhapur

The International Monetary Fund (IMF) has officially recognized Bitcoin (BTC) and other cryptocurrencies in its global economic reports for the first time. This marks a major shift, showing how digital assets are becoming an unavoidable part of the financial system.

But the update has sparked a heated debate. Some in the crypto community claim the IMF has gone as far as calling Bitcoin “digital gold.” Is that really the case, or is it just a misunderstanding? Let’s break it down.

Clearing Up the Confusion

After the update, a heated discussion broke out in the crypto community, with many claiming that the IMF referred to Bitcoin as “digital gold.” The idea spread quickly across social media, fueling debates and speculation.

However, Dennis Porter, a well-known figure in the crypto space, questioned this claim. He asked, “Can anyone point to exactly where the IMF says Bitcoin is ‘digital gold’?”

What the IMF Actually Said

Porter reviewed the IMF’s statement and found the source of the confusion. The IMF described Bitcoin as a “new digital asset designed to be used as a means of payment or act as a store of value.” While this acknowledges Bitcoin’s potential, it does not mean the IMF is officially classifying it as digital gold.

He pointed out that the phrase “designed to be” is important. It suggests Bitcoin has the potential to act as a store of value, but it is not a confirmation that it already holds the same status as gold. Unlike gold, which has a long history of stability, Bitcoin’s price is highly volatile, making its role as a store of value uncertain.

IMF Updates Rules on Crypto Classification

The IMF’s latest update to the Balance of Payments Manual (BPM7) introduces new rules for tracking digital assets in global finance. This is the first time the IMF has set clear guidelines on how cryptocurrencies should be recorded in economic reports.

According to the new classification:

  • Cryptocurrencies like Bitcoin are considered non-productive capital assets.
  • Stablecoins are classified as financial instruments.
  • Cross-border crypto transactions, staking, and mining are now recorded differently. Mining and staking are treated as computer services exports or imports in a country’s financial data.

Trump Administration’s Push for a US Bitcoin Reserve

While the IMF may not have called Bitcoin “digital gold,” some US officials have. President Trump’s Executive Director of Digital Assets recently used the term, highlighting Bitcoin’s role as a hedge against inflation and a store of value. With growing institutional interest, Bitcoin is becoming a key part of the global financial system.

The Trump administration is looking for ways to increase the US Bitcoin Reserve without adding to the federal deficit. One proposal, outlined in the BITCOIN Act of 2025, suggests using gold certificates to fund Bitcoin purchases. Bo Hines, a key crypto advisor to the administration, supports a gold-to-Bitcoin reserve swap, which would allow the government to expand its digital asset holdings without placing additional costs on taxpayers.

The IMF might not be crowning Bitcoin as gold just yet, but with governments and institutions taking it seriously, it just may be the future of money.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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