El Salvador’s central bank disclosed a $50 million gold purchase on Thursday, adding to the country’s international reserves at a time when both precious metals and digital assets face sharp market swings.
In a post published on X, the Central Reserve Bank of El Salvador said it acquired 9,298 troy ounces of gold. The purchase raises the country’s total gold holdings to 67,403 ounces, with a combined value near $360 million at current prices, according to the bank.
El Banco Central de Reserva realizó una nueva adquisición de 9,298 onzas troy de oro en los mercados internacionales, equivalentes a US$50 millones, como parte de su estrategia de incremento en las tenencias de este metal. pic.twitter.com/1GD7H4Bd0X
— Banco Central de Reserva (@bcr_sv) January 29, 2026
The acquisition marks El Salvador’s second major gold purchase since 2025 and one of the few such moves by the country since 1990. The announcement arrived as gold prices remain near record highs after a strong rally earlier this year.
Central bank frames gold as strategic reserve asset
In its statement, the Central Reserve Bank described gold as a “universally strategic reserve asset” that supports long-term financial stability and protects the economy against structural shifts in global markets.
“The Central Reserve Bank of El Salvador states that this second acquisition strengthens the country’s long-term assets, while maintaining a prudent balance in the composition of the assets that make up the International Reserves,” the bank said.
The purchase follows a previous acquisition of 13,999 troy ounces in September 2025, which also carried a value close to $50 million at the time. Together, the two transactions significantly expanded El Salvador’s bullion reserves within a short period.
The central bank did not specify a target level for future gold purchases, nor did it outline a fixed allocation strategy. Officials instead emphasized reserve diversification and resilience against external shocks.
Bukele hints at Bitcoin accumulation
President Nayib Bukele reposted the gold announcement and added a brief comment that drew attention across the crypto community.
“We just bought the other dip,” Bukele wrote.
The statement left room for interpretation. Arkham data showed El Salvador added one bitcoin to its holdings on the same day, consistent with Bukele’s long-standing pledge for the government to purchase one bitcoin per day.
According to Arkham, El Salvador now holds 7,547 bitcoin, with a market value near $635 million based on prices slightly above $84,000. The accumulation continued despite recent market weakness that pushed Bitcoin to multi-month lows.
Dual reserve strategy takes shape
El Salvador has built a global reputation as a crypto-forward state since it adopted Bitcoin as legal tender. The country’s steady accumulation of bitcoin has remained intact through multiple market downturns, regulatory pressure, and international scrutiny.
The recent gold purchases suggest a parallel strategy rather than a retreat from digital assets. Officials have framed bullion and Bitcoin as complementary components of national reserves, rather than competing bets.
By expanding gold exposure during a rally in safe-haven assets, El Salvador joins a broader group of central banks that have increased holdings of hard assets amid macroeconomic uncertainty.
Global gold demand remains elevated
Gold prices have risen nearly 20% year to date, supported by geopolitical tensions and shifts in investor risk appetite. Demand has extended beyond private investors to central banks and large institutions.
The National Bank of Poland recently announced plans to increase its gold reserves to 700 tonnes. China also reported adding more than 10 tonnes of gold in November, though analysts question whether official disclosures reflect the full scale of purchases.
“Assuming official purchases were 10% of what China is actually buying, this suggests China acquired +270 tonnes of physical gold in 2025. China is stockpiling gold like we are in a major crisis,” The Kobeissi Letter wrote.
China has not confirmed those estimates.
Institutional demand has also increased. Reuters reported that Tether added roughly 27 tonnes of gold during the fourth quarter of 2025, with a target allocation between 10% and 15% of its portfolio.
Tokenized gold and market volatility
Interest in tokenized gold products has risen alongside physical demand. On-chain data shows increased whale activity in Tether Gold (XAUT) and Paxos Gold (PAXG), reflecting demand for blockchain-based exposure to bullion.
Despite strong year-to-date performance, gold prices faced short-term pressure. At press time, gold traded near $5,129, down 7% over the past 24 hours amid heightened tensions between the U.S. and Iran. The pullback affected commodities, equities, and cryptocurrencies alike.
El Salvador positions reserves across old and new assets
El Salvador’s reserve decisions place the country at an unusual intersection of traditional and digital finance. The combination of physical gold and Bitcoin reflects a diversification approach that departs from conventional reserve management models.
For now, officials continue to emphasize long-term asset strength rather than short-term price movements. With 67,403 ounces of gold and 7,547 bitcoin, El Salvador maintains exposure to two assets that often gain attention during periods of global stress.
Gunel Ismayilova
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