Share this article
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.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
