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Bitcoin to Join Gold on Central Bank Reserve Balance Sheets by 2030: Deutsche Bank
As investors look for alternatives to traditional assets, bitcoin could evolve from a speculative bet into a legitimate pillar of the global financial system, the bank said.
Updated Sep 22, 2025, 1:23 p.m. Published Sep 22, 2025, 1:11 p.m.
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What to know:
- Deutsche Bank says bitcoin could appear on central bank balance sheets by 2030, coexisting with gold as a complementary hedge asset.
- The cryptocurrency's 30-day volatility hit historic lows even as prices topped $123,500, suggesting a shift from speculation toward maturity.
- Neither bitcoin nor gold is likely to replace the dollar as the primary reserve currency, the report said.
Bitcoin is on track to join gold as a recognized reserve asset within the decade, German lender Deutsche Bank (DBK) said in a report Monday, though the precious metal will likely keep its lead in official holdings for now.
The U.S. dollar still makes up 57% of global reserves, the report noted, but signs of diversification are emerging. China’s U.S. Treasury holdings fell $57 billion in 2024, and momentum for crypto regulation is building in major markets.
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Deutsche Bank argues that bitcoin and gold will continue to coexist as complementary hedges against inflation and geopolitical risk, thanks to their scarcity and low correlation to other assets.
Gold hit a record high of $3,763 on Monday. The precious metal has risen over 40% year-to-date.
Crucially, bitcoin’s volatility, long an obstacle to reserve status, is dropping, the bank's analysts said. Its 30-day volatility hit historic lows in August, even as prices broke records above $123,500, suggesting the cryptocurrency may be decoupling from its speculative past.
The bank said neither bitcoin nor gold is likely to dethrone the dollar, as governments will act to protect monetary sovereignty.
Deutsche Bank sees bitcoin’s adoption following a path similar to gold’s, moving from skepticism to widespread acceptance, with regulation, macroeconomic trends and time paving the way.
As investors continue seeking alternatives to traditional assets, bitcoin could evolve from a speculative bet into a legitimate pillar of the global financial system, the report said.
Read more: Gold Rallies an Hour After Bitcoin Drops, Suggesting a Profit Rotation Into Metals
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus
Some investors have revived concerns that quantum computing could threaten bitcoin, but analysts and developers say recent price weakness reflects market structure.
Ano ang dapat malaman:
- Bitcoin’s recent price stagnation has sparked a renewed debate over quantum-computing risks, with investor Nic Carter arguing that quantum fears are already shaping market behavior.
- On-chain analysts and prominent investors counter that the slowdown is better explained by large holders taking profits and increased supply hitting the market around the $100,000 level.
- Most bitcoin developers still view quantum attacks as a distant, manageable threat, noting that proposed upgrades like BIP-360 provide a path to quantum-resistant security and are unlikely to explain short-term price moves.
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