According to a report by Deutsche Bank, global central banks have increased their gold reserves in the last few years. This trend could have significant implications for Bitcoin.
Deutsche Bank Strategists report that the gold share in reserve central banks reached 24 percent during the second quarter, the highest since 1990. reported Thursday.
With official demand for gold running at twice the pace of the 2011–2021 average, some Deutsche Bank analysts see growing parallels between gold and Bitcoin (BTC(), which saw a performance that was unprecedented in 2025.
Strategists at Deutsche Bank wrote that the renewed accumulation of gold marks a major shift in global financial behavior, reiterating a pattern seen throughout much of 20th-century history. They also noted the similarities between Bitcoin and the momentum it has experienced.
Gold prices rise by inflation adjusted levels
The gold price has been paralized breaking new highs in terms of fiat moneyThe asset’s inflation-adjusted lifetime high (ATH) was only reached recently.
“It’s only in recent weeks that gold has finally surpassed its real-adjusted all-time highs from around this point 45 years ago,” Deutsche Bank’s strategists wrote.
Deutsche Bank has cited the decades-long central bank sales, the forced institution gold sale, and the advent of fiat currencies as the main reasons behind the long-term delay of gold’s inflation adjusted ATH.
“Gold’s formal role as a reserve asset ended in 1979, when the IMF [International Monetary Fund] prohibited members from pegging exchange rates to gold — eight years after the collapse of Bretton Woods,” Deutsche Bank analysts said.
What qualifies Bitcoin as a reserve?
The macro strategist at Deutsche Bank, Marion Laboure, highlighted some parallels with Bitcoin, which could potentially make it an attractive asset to store value.
The report is titled “Gold’s reign, Bitcoin’s rise,” Laboure observed There are significant similarities between their performance trajectory since inception.
The strategist also noted that gold and Bitcoin both have periods of high volatility as well as underperformance.
Related: Bitcoin may go ‘boring’ as institutional interest ramps up: Michael Saylor
Laboure also said that both bitcoin and gold have low correlations with traditional assets. This provides notable diversification advantages.
Bitcoin and Gold to Join Central Bank Reserves by 2030
Laboure said that Bitcoin has the potential to become a central reserve asset because of its volatility. “backed by nothing” Key counterarguments
“Volatility, however, has now fallen to historic lows,” While noting other concerns such as the limited usage of bitcoin, perceived risks, its speculative character, cyber vulnerabilities, and liquidity limitations, she continued.
Related: A Bitcoin strategic reserve may be bad for BTC and USD: Crypto exec
Laboure stated that Bitcoins and Gold are still valuable. “may both feature on central bank balance sheets by 2030,” They are characterized by their similarities, such as their roles in the community. “safe-haven” assets.
Laboure’s perspectives on Bitcoin, gold and silver comes amid growing institutional BTC adoption Some governments have shown an increasing level of interest. holding Bitcoin as part of their strategic reserves.
Bitcoin remains volatile. major concern for many central bankersThe primary goal of a reserve asset is to maintain its value.
Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow
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Source: cointelegraph.com
