Deutsche Bank's latest research indicates that central banks worldwide may significantly boost their Bitcoin and gold holdings by 2030, driven by rising institutional acceptance and a weakening U.S. dollar. In a recent report, the institution's London-based senior economist Marion Laboure and analyst Camilla Sutton emphasized that Bitcoin allocation could become a new "financial security cornerstone" for central banks, with strategic importance comparable to gold's role in the 20th century.

This assessment comes as global demand for both Bitcoin and gold reaches historic highs, with economic uncertainty stemming from U.S. tariff policies and geopolitical risks driving investors to accelerate hedging against inflation risks while preparing for potential changes in the traditional fiat currency system. Gold, as a traditional safe-haven asset, has already surpassed the $4,000 per ounce threshold, while Bitcoin's trading price, though slightly below this week's historic peak, is increasingly demonstrating its characteristics as an institutional "safe-haven tool."

Research shows that gold's proportion in central bank balance sheets began rising significantly after the 2008 financial crisis. This institutional investor flight to safety compelled central banks to become net gold buyers starting in 2010. Today, heightened trade uncertainty and market volatility have further boosted gold's appeal, with global central bank gold reserves now exceeding 36,000 tons, confirming the "gold comeback" trend.

Deutsche Bank's analysis points out that rising gold prices are closely linked to the de-dollarization process. Data shows the U.S. dollar's share in global reserves has declined from 60% in 2000 to 41% in 2025, a trend that benefits both gold and Bitcoin. In June this year, gold ETFs and Bitcoin ETFs recorded net inflows of $5 billion and $4.7 billion respectively, both setting monthly records.

Laboure specifically noted that the 20th century's market pursuit of gold forms a clear parallel with current policymaker debates surrounding Bitcoin. While Bitcoin as a reserve asset remains controversial, its attention and market performance have reached record levels.

However, this view faces opposition. Recent reports from JPMorgan analysts suggest that stablecoins could generate new dollar demand, potentially bringing $1.4 trillion in additional dollar demand through stablecoin market expansion by 2027, casting doubt on Deutsche Bank's gold-Bitcoin reserve strategy.

In response, Laboure stated that neither Bitcoin nor gold can fully replace the dollar. Within central bank reserve frameworks, digital assets should serve as "supplements" rather than substitutes for sovereign currencies. She further indicated that as volatility gradually subsides and regulatory support from countries like the U.S. and China increases, market confidence continues to strengthen.