Central banks around the world could soon be holding more Bitcoin and gold reserves than U.S. dollars by 2030, according to a new report by Deutsche Bank.
The report, titled “Gold’s Reign, Bitcoin’s Rise: The Future of Central Bank Reserves,” highlights a potential paradigm shift in how sovereign wealth and central banking institutions manage their reserves amid weakening trust in traditional fiat currencies.
Authored by Deutsche Bank economists Marion Laboure and Camilla Siazon, the research draws parallels between gold’s historical role as a cornerstone of financial security in the 20th century and Bitcoin’s emerging position in the digital age.
The economists suggest that Bitcoin, despite not being backed by a physical asset, could serve as a “modern pillar of financial security,” offering diversification and protection against inflation and geopolitical risks.
The report notes that Bitcoin’s volatility has dropped to historic lows in recent years, improving its appeal to long-term institutional investors and reserve managers. This stability, combined with growing regulatory clarity and mainstream financial integration, is strengthening Bitcoin’s case as a viable reserve asset.
Deutsche Bank’s analysis also underscores broader structural changes in global finance. As countries seek alternatives to the U.S. dollar amid rising fiscal deficits and de-dollarization trends, both gold and Bitcoin are emerging as attractive stores of value.
The report suggests that the share of dollar-denominated assets in global reserves could decline over the next decade, with central banks diversifying into a mix of commodities and digital assets.
However, the bank’s economists emphasize that Bitcoin’s inclusion in reserve portfolios would likely be gradual, beginning with small allocations. Still, the symbolic shift toward digital assets could redefine how nations manage financial stability in the decades ahead.
If realized, this transition would mark a historic milestone, the first time in modern history that digital currencies and gold could jointly underpin global reserve strategies.