El Salvador Expands Reserves With $50M Gold Purchase Amid Ongoing Bitcoin Strategy

El Salvador has once again made headlines in global finance after its central bank confirmed the purchase of $50 million worth of gold, reinforcing the country’s unconventional yet closely watched economic strategy. The announcement, shared Thursday via an official post on X, revealed that the Central American nation acquired 9,298 troy ounces of gold, increasing its total gold reserves to 67,403 ounces. At current market prices, El Salvador’s gold holdings are now valued at approximately $360 million.

The move underscores El Salvador’s efforts to diversify its national reserves at a time of heightened volatility across global financial markets. While the country is best known for its bitcoin-friendly stance, the gold purchase highlights a parallel strategy of strengthening traditional safe-haven assets alongside digital currencies. President Nayib Bukele amplified attention to the announcement by reposting it on social media with the comment, “We just bought the other dip,” a remark that sparked debate over whether he was referring to gold, bitcoin, or both.

Data from blockchain analytics firm Arkham suggests the comment may have been intentionally ambiguous. On the same day as the gold purchase, El Salvador reportedly added one more bitcoin to its national holdings, consistent with Bukele’s long-standing commitment for the government to buy one bitcoin per day. According to Arkham, the country now holds 7,547 bitcoin, valued at roughly $635 million at current prices, with bitcoin trading just above $84,000.

El Salvador’s dual accumulation of gold and bitcoin reflects a broader strategy aimed at balancing innovation with financial stability. Gold continues to serve as a hedge against inflation and economic uncertainty, while bitcoin represents a long-term bet on digital assets and financial sovereignty. This combination has drawn both praise and criticism from economists, investors, and international institutions, but it has undeniably positioned El Salvador as a unique case study in modern reserve management.

As global interest in alternative assets grows, El Salvador’s latest gold purchase and ongoing bitcoin accumulation will likely remain under close scrutiny, offering insight into how nations may adapt their reserve strategies in an evolving financial landscape.