El Salvador Buys Gold for First Time Since 1990, Diversifying From Bitcoin

El Salvador’s central bank purchased $50 million worth of gold in early September — the country’s first acquisition of the precious metal since 1990, as it seeks to diversify its international reserves beyond its volatile Bitcoin holdings.

The Central Reserve Bank of El Salvador bought 13,999 troy ounces of gold, increasing the country’s total gold reserves by about 32% to 58,105 ounces, now valued at approximately $207 million, the bank announced last week.

The purchase comes as gold prices have surged to near-record highs of around $3,600 per ounce, a more than 36% increase this year driven by strong central bank demand worldwide.

El Salvador’s net international reserves have grown to $4.7 billion as of July 2025, up from $3 billion in the same period last year. About $700 million of those reserves remain in Bitcoin, which the country has been accumulating under President Nayib Bukele.

The gold acquisition is a strategic shift toward balancing the country’s cryptocurrency exposure with traditional reserve assets. The move follows as central banks around the world have collectively purchased over 1,000 tons of gold annually in recent years.

It also follows El Salvador’s agreement to halt government Bitcoin purchases as part of a $1.4 billion International Monetary Fund loan approved in February 2025, which required the country to limit official cryptocurrency activities.

The IMF agreement included “program commitments” to “confine government engagement in Bitcoin-related economic activities, as well as government transactions in and purchases of Bitcoin,” steering the country toward more traditional reserve assets, such as gold.

“The implementation of this strategy is possible thanks to the strengthening of the Central Reserve Bank’s assets in recent years,” the bank said in a statement, crediting policies implemented under Bukele’s administration.



Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Silver Still At 90:1, What If It Snaps Back To 15:1? | Glenn Jessome – Silver Tiger

Why This Gold Run Could Be Bigger | Roger Rosmus – Goliath Resources

Majors Don’t Want to Be Left Out of This Gold Run | Mike Bennett – Altamira Gold Corp

Recommended

Japan Gold Concludes Barrick Alliance After $23 Million In Spend, Discussions Ongoing With Potential New Partners

Sage Potash Outlines US$502 Million NPV For Flagship Sage Plains Project

Related News

Copper’s Role in the New Digital Age and Emerging Technologies | Torr Metals with Malcom Dorsey

In this interview at the Red Cloud Fall Mining Showcase 2024, Malcolm Dorsey, President, CEO...

Monday, October 21, 2024, 08:51:00 AM

Liberty Gold Reports 1.7 Million Indicated Ounces Of Gold At Black Pine Oxide Gold Deposit

Liberty Gold Corp (TSX: LGD) has finally released a resource estimate for its Black Pine...

Tuesday, July 13, 2021, 07:56:22 AM

Great Thunder Announces Private Placement; Sprott Increases Investment

This morning Great Thunder Gold (TSXV: GTG) announced a non-brokered private placement financing of up...

Thursday, July 23, 2020, 09:34:09 AM

Russia’s Share of Gold Exceeds US Dollar Holdings for First Time Ever

With tensions between the US and Russia escalating over the past several years, the latter...

Wednesday, January 13, 2021, 10:45:00 AM

Gold Mining In The Philippines – The Daily Dive feat James Macintosh of Monterey Minerals

Recently, Daily Dive host Cassandra Leah sat down with James Macintosh, CEO of Monterey Minerals...

Wednesday, November 25, 2020, 01:00:00 PM