TLDR
- Deutsche Bank analysts predict central banks could hold Bitcoin and gold in their reserves by 2030 as Bitcoin’s volatility decreases
- Bitcoin recently hit a record high above $125,000 while gold prices rose more than 50% this year to near $4,000 per ounce
- Analysts Marion Laboure and Camilla Siazon say Bitcoin could become a “modern cornerstone of financial security” similar to gold’s 20th century role
- Central banks are buying gold to diversify away from the US dollar, and Deutsche Bank sees Bitcoin following a similar pattern
- The bank acknowledges Bitcoin is “backed by nothing” but notes its volatility has fallen to historic lows
Deutsche Bank released a report stating that central banks worldwide may add Bitcoin to their reserve holdings by 2030. The prediction comes from analysts Marion Laboure and Camilla Siazon at the German financial institution.
JUST IN: 🇩🇪 $1.5 trillion Deutsche Bank says Central banks may hold "significant amounts of Bitcoin and gold by 2030." pic.twitter.com/MXpOGre6lT
— Watcher.Guru (@WatcherGuru) October 9, 2025
The analysts drew parallels between Bitcoin and gold. Both assets have surged in price recently and offer diversification from traditional currencies. Gold prices have climbed over 50% in 2025 to approximately $4,000 per troy ounce.
Bitcoin reached a new record high above $125,000 this week. The cryptocurrency has seen its volatility decline as its price has increased. This makes it behave more like gold in terms of price stability.
Central banks have been buying gold to hedge against political uncertainty in the United States. They also want protection from a weakening dollar. Many nations continue holding US dollars but have added gold to diversify their reserves.
The Deutsche Bank report suggests Bitcoin could follow the same adoption pattern. As central banks seek assets that don’t move in tandem with other holdings, Bitcoin becomes more attractive. The cryptocurrency offers similar diversification benefits to gold.
Bitcoin’s Growing Role
Marion Laboure noted that policymaker discussions about Bitcoin mirror 20th century debates about gold. She described Bitcoin as enjoying record performance and increasing attention as a potential reserve holding. The asset remains highly debated among financial authorities.
The analysts outlined several reasons for central banks to consider Bitcoin. These include diversification of reserves and reduced exposure to dollar fluctuations. Bitcoin also provides a potential hedge against inflation and geopolitical risks.
However, Deutsche Bank identified necessary conditions for Bitcoin adoption. Clear regulatory frameworks must be established. High liquidity and secure custody solutions are required. Volatility needs to remain contained for Bitcoin to play a meaningful role in reserves.
Corporate Bitcoin Holdings
Hundreds of companies now hold Bitcoin on their balance sheets. Michael Saylor’s Strategy is the most prominent example. The company’s entire business model centers on acquiring more Bitcoin.
This corporate trend supports Bitcoin’s legitimacy as a reserve asset. It demonstrates growing institutional acceptance of cryptocurrency holdings. These “Bitcoin treasuries” add to the asset’s perceived stability.
The Deutsche Bank analysts admitted Bitcoin faces criticism. Unlike cash, bonds, property or stocks, Bitcoin doesn’t entitle owners to underlying assets or cash flows. It represents computer code signaling a price.
Laboure and Siazon acknowledged the main argument against Bitcoin. Critics say it’s too volatile for long-term value because it’s backed by nothing. The analysts counter that Bitcoin’s volatility has dropped to historic lows.
Neither Bitcoin nor gold will replace the US dollar entirely, according to the report. Laboure stated that digital assets should remain complementary to national currencies. However, these assets are gaining importance as the dollar faces declining value.
Goldman Sachs raised its gold price target to $4,900 from $4,300. Analysts Lina Thomas and Daan Struyven cited sticky demand from emerging market central banks. They expect gold prices to rise 23% by December 2026.
The gold price surge represents the fastest annual gain since 1979. That year saw a 127% increase during the oil crisis and subsequent inflation surge. Such gains typically occur during major economic crises.
Stock markets show a different picture. The S&P 500 hit a new record high and is up 14.6% year-to-date. Investors appear optimistic about stocks while simultaneously buying safe-haven assets.
Bitcoin traded around $123,800 following its recent peak. The cryptocurrency has maintained relatively stable prices despite the record high. This price action supports the Deutsche Bank thesis about declining volatility.
