Bitcoin purchases by central banks: Deutsche Bank assumes
- A new research report from Deutsche Bank outlines Bitcoin as a possible building block for future central bank reserves. The report specifically examined the question of whether central banks could hold Bitcoin by 2030. The conclusion: “We expect Bitcoin to be listed alongside gold on the official reserve balance sheets of many central banks by 2030.”
- The arguments cited relate to Bitcoin's low correlation with other asset classes, its tight supply, and its use as a hedge against inflation and geopolitical volatility. However, the authors do not see BTC as a replacement for the US dollar.
- The study draws parallels to the historical development of gold. With growing institutional use and clearer regulations, Bitcoin's volatility tends to decrease, increasing its suitability as a reserve asset. The environment is also favorable, as many central banks have already expanded their gold holdings for geopolitical reasons and are seeking additional hedges.
- While adoption is likely to initially advance in resource-rich emerging markets or countries with a high affinity for cryptocurrencies, legal, accounting, and sanctions hurdles are holding it back in major industrialized countries. In the short term, the report nevertheless provides momentum for the digital gold narrative.
- Looking ahead, the report paints the following scenario: “The US-led adoption of Bitcoin may facilitate a longer-term transition in which Bitcoin and other cryptocurrencies evolve from a speculative investment to a legitimate, important part of the global financial world.”
- In addition to the expected interest rate cuts by the US Federal Reserve, high government spending is also seen as a driver of Bitcoin. The reason is that fiscal policy is increasingly taking over.
- If you want to buy Bitcoin, you can do so at Bitpanda, among others.
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source
- Bitcoin vs Gold | Deutsche Bank Research
