El Salvador adds $50M in gold as it strengthens reserve strategy

The Central Reserve Bank (BCR) of El Salvador announced on January 303 that it made a new purchase of 9,298 troy ounces of gold, valued at $50 million, on international markets, reinforcing its push to build bullion reserves as gold prices soar.  

This was not the nation’s first distribution in a long time. The purchase comes after 13,999 troy ounces, which were similarly valued at about $50 million at the time, were acquired in September 2025. According to the central bank, the new purchase lifted the country’s total gold holdings to 67,403 ounces, valued at approximately $360 million at the current price.

El Salvador expands gold reserves and Bitcoin holdings

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

According to the Central Reserve Bank of El Salvador, “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 stated. However, no official target level for future purchases was specified in the statement.

The BRC described gold as a “universally strategic reserve asset” that supports long-term financial stability. It maintained that the metal increases trust among investors and citizens and protects the domestic economy from structural shifts in global markets.

President Nayib Bukele reposted the announcement on X, “We just bought the other dip.” It was unclear if Bukele was cheekily revealing the government’s own bitcoin purchase or celebrating the gold purchase.

The recent gold purchase comes at a time when the nation is making ongoing efforts to increase its exposure to Bitcoin, further solidifying its reputation as a global leader in cryptocurrency. The government has gradually accumulated coins for the national treasury since making Bitcoin legal tender.

On-chain data from Arkham Intelligence revealed that El Salvador has continued to accumulate bitcoin through a succession of one-bitcoin purchases, with recent transactions totaling between $84,700 and $95,400 each. 

The data reflects many additions over the past two weeks alone, including transactions of roughly $88,000–$89,000 on several consecutive days and higher-priced acquisitions above $95,000 earlier this month. The regular inflows are consistent with President Nayib Bukele’s vow for the government to buy one bitcoin each day, strengthening the country’s long-term accumulation strategy.

On-chain data revealed that the country’s stack now stands at 7,547 Bitcoins, worth around $619.54 million at the current price of $82,087, down 6.53%.

Global gold demand drives investors’ purchases

El Salvador’s recent action is taking place amid rising global demand for gold. The metal has rallied nearly 20% year to date, hitting multiple record highs amid intensifying geopolitical and macroeconomic tensions. Building on this momentum, investors globally have moved into safe-haven holdings. 

For instance, on January 20, the National Bank of Poland (NBP) announced plans to increase its gold reserves to 700 tons to lessen its dependence on conventional reserve currencies. Adam Glapinski, the President of NBP, revealed that the bank was the biggest net buyer among central banks in 2025, having bought over 100 tonnes of gold.

While some central banks are transparent about their purchases, China is quietly increasing its gold holdings. According to a Kobeissi Letter report, China is still secretly hoarding gold. Last December, the country made its 14th consecutive monthly purchase of an extra 0.9 tons of the metal. 

The report noted China is reporting 10–11 times less gold than it actually purchases, meaning that the +27 tons of total gold purchases officially reported in 2025 may actually be +270 tons. A Cryptopolitan report dated January 27 noted that China’s projected gold purchases in November exceeded 10 tons, roughly 11 times the amount reported by the People’s Bank of China (PBoC). The report said that China is buying gold as if the world were in a huge crisis.

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