Emre Yumlu 
One of the most debated questions in global finance is whether Bitcoin will eventually become part of central bank reserves. According to a recent report by German banking giant Deutsche Bank, Bitcoin could secure its place alongside gold as a recognized reserve asset by 2030. However, the bank emphasizes that gold will continue to dominate official holdings in the near term.
Signs of Reserve Diversification
Currently, the U.S. dollar accounts for about 57% of global reserves, maintaining its position as the backbone of the international monetary system. Yet, the landscape is shifting. In 2024, China reduced its U.S. Treasury holdings by $57 billion, a move signaling that major economies are exploring ways to diversify their reserves and reduce reliance on the dollar.
Bitcoin and Gold: Complementary Hedges
Deutsche Bank highlights that Bitcoin and gold are increasingly seen as complementary assets. Both have a finite supply and exhibit low correlation with traditional asset classes, making them valuable hedges against inflationary pressures and geopolitical uncertainty.
Gold’s performance further underscores this narrative. The precious metal recently surged to a record high of $3,763 per ounce, posting a gain of more than 40% since the beginning of the year.
Declining Volatility Strengthens Bitcoin’s Case
For years, volatility has been the main argument against Bitcoin as a reserve asset. However, recent data suggests a shift.
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In August, Bitcoin’s 30-day volatility dropped to historic lows,
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while its price simultaneously soared past $123,500, setting new records.
This combination indicates that Bitcoin is gradually transitioning from a speculative instrument to a more stable macroeconomic asset.
The Dollar’s Dominance Remains Intact
Despite growing interest in Bitcoin and gold, Deutsche Bank analysts believe the U.S. dollar will remain the dominant reserve currency. Governments are expected to take measures to safeguard their monetary sovereignty, which will help the dollar maintain its central role in global reserves for years to come.
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