Deutsche Bank says Bitcoin and gold may both appear on central bank balance sheets by 2030, citing declining volatility, fading skepticism, and US-led adoption.

In its report “Gold’s Reign, Bitcoin’s Rise,” the bank noted Bitcoin’s record 2025, surpassing $125,000, while gold is up ~50% and could reach $4,000 by year-end.

Bitcoin, now hitting new ATH’s could both see increased adoption by central banks seeking protection from inflation and currency risk

The bank said central banks may view Bitcoin as a modern reserve asset alongside gold, citing improving liquidity, strategic value, and trust.

 Both assets, it concluded, are likely to play a structural role in global reserves as governments seek protection from inflation and currency risk.

Economists Marion Laboure and Camilla Siazon cite Bitcoin’s improving liquidity, regulatory clarity, and declining volatility, arguing it’s evolving from a speculative asset to a structural component of global finance.