El Salvador returns to gold: purchased 13,999 ounces in 2025 (approximately $50 million) to secure reserves alongside Bitcoin

In 2025, the Central Bank of El Salvador expanded its reserves with 13,999 ounces of gold (approximately 397 kg reported by the press, although the correct troy calculation indicates about 435 kg), a move estimated at around 50 million dollars aimed at strengthening the diversification and stability of the sovereign portfolio, alongside the position in Bitcoin.

In this context, the increase in gold is embedded in a broader reserve management strategy, designed to better distribute risk over time without altering the stance on Bitcoin.

According to the data collected by our macro-financial research team, the operation is consistent with a short-term trend towards the reconciliation between digital assets and traditional reserves. In accounting monitoring and communications with local market sources, we have recorded qualitative confirmations on the execution of the purchase. Data and assessments in this article are updated as of September 7, 2025, and are based on daily surveys and contacts with industry operators.

El Salvador: how much gold has been purchased

The acquired lot amounts to 13,999 troy ounces, whose equivalent mass should be approximately 435 kg if the correct conversion factor is used (1 troy oz = 0.0311035 kg). The dollar valuations reported by the media are market estimates: the loading price has not been officially disclosed. For informational purposes, the equivalent value varies based on the spot price of gold at the time of assessment. That said, the indicative nature of the calculations suggests caution in interpreting the figures, which remain tied to the fluctuations of the metal.

Where the reserves arrive after the operation

• Total gold after purchase: 58,105 troy ounces (approximately 1.81 tonnes), calculated by adding the previous 44,106 ounces with the new 13,999 ounces.
• Indicative value, according to journalistic estimates, is approximately $207.4 million for the entire stock.
• Gold held before purchase: 44.106 troy ounces (approximately 1.37 tonnes).

The share of gold in the country’s total reserves cannot be precisely estimated in the absence of updated official data on the total foreign exchange reserves and in Bitcoin. It should be noted that, without a definitive accounting framework, the effective weighting of assets remains an evolving figure.

Why it matters: “hybrid” strategy between gold and Bitcoin

The operation marks the return to gold in the country’s reserve policies, after a long period of almost exclusive reliance on other asset classes, and strengthens a hybrid approach that combines a traditional safe haven with a volatile asset class like Bitcoin. The stated goal is to increase the resilience of the public budget by diversifying risk and avoiding excessive dependence on a single asset. Indeed, the combination of instruments with different risk profiles aims to stabilize the overall trajectory of the reserves.

In terms of risk management, gold guarantees liquidity, international recognition, and a possible hedge against currency shocks and inflation; Bitcoin, while presenting greater volatility, could offer potential upside in the long term. The combination of these assets aims to contain overall fluctuations. That said, the calibration of weights between the two components remains central to absorbing market shocks without compromising the long-term strategy.

The global context: central banks are still buying gold

The Salvadoran move fits into a global trend where several central banks – including those of China, Turkey, and India – have increased gold purchases as a hedge against the risk associated with the dollar and as a tool for portfolio diversification, as documented by the World Gold Council and the official reserve data from the IMF (COFER). Data updated to September 7, 2025, confirm that central banks’ interest in gold has remained significant over the past two years.

This scenario supports the idea of a more diversified sovereign portfolio, where gold acts as an anchor during periods of uncertainty, as highlighted by the recent coverage on CryptoShrypto. In this context, the return to a greater centrality of the yellow metal in reserve choices is not surprising.

Advantages, risks, and conditions for the strategy to work

• Advantages: greater diversification, improved credibility positioning at an international level, and the addition of a reserve with global liquidity.
• Risks: the cyclical trend of gold prices, the potential mismatch with liabilities denominated in dollars, and the need for effective governance to manage a “dual asset” portfolio.
• Conditions: requirement for periodic transparency on stocks and average prices, independent audits, and clear rules on allocation and rebalancing between gold, dollars, and Bitcoin.

Essential Timeline

• Before: the country showed a strong exposure to Bitcoin with a quantity of gold amounting to approximately 44,106 ounces.
• In 2025: the purchase of 13,999 ounces (estimated around $50 million) was made, marking the operational return to gold after more than three decades.
• After: the overall stock stands at 58,105 ounces (approximately 1.81 tons), with a total estimated value close to $207.4 million according to journalistic sources (data updated as of September 7, 2025).

Evaluation Method: How to Read the Numbers

The dollar figures reported by the media are based on estimates that take into account the spot price and journalistic evaluations. The average price actually paid, any premiums or discounts, and the accounting date of registration have not been made public. Consequently, the dollar value of the total ounces can vary significantly based on the trend of the spot price of gold. It should be noted that the absence of official details implies that the informational scope remains partial and subject to revisions.

Reading Corner

For a country like El Salvador, which has enthusiastically adopted Bitcoin in the payment system, the accumulation of gold represents a hedging strategy against potential economic shocks, reducing both the reputational risk and the overall volatility of the portfolio, while maintaining a profile of financial innovation. In other words, gold complements the more volatile component by offering a cushion of stability, without distorting the trajectory already undertaken.