Bitcoin’s Potential as Digital Gold: Central Banks Consider Adding to Reserves by 2030

According to Deutsche Bank,

could serve as an additional reserve asset for central banks by 2030, potentially joining gold in a diversified reserve portfolio to counter inflation and manage geopolitical uncertainty CoinDesk, [ 1 ]. The bank’s September 2025 report points to Bitcoin’s decreasing volatility and increasing institutional involvement as major factors supporting its possible role in official reserves. Although the U.S. dollar still accounts for 57% of global reserves CoinDesk, [ 1 ], the report observes a growing trend toward diversification, such as China’s $57 billion reduction in U.S. Treasury holdings in 2024 CoinDesk, [ 1 ], as central banks look for alternatives to conventional assets.

The report highlights Bitcoin’s increasing maturity, noting that in August 2025, its 30-day volatility reached a record low even as its price exceeded $123,500 CoinDesk, [ 1 ]. This development, according to the bank, marks a shift from speculative trading toward a more stable, institutionally accepted asset.

draws parallels between Bitcoin’s development and gold’s historical adoption, emphasizing that both assets are scarce, have low correlation with traditional markets, and act as safe havens during economic turmoil The Cryptonomist, [ 2 ]. However, the bank makes it clear that Bitcoin is not expected to supplant gold or the dollar, but rather to exist alongside them as part of a comprehensive risk management approach CoinDesk, [ 1 ].

The report identifies regulatory certainty and infrastructure enhancements as essential for Bitcoin’s broader adoption. It stresses the importance of establishing clear accounting rules, secure custody options, and strong anti-money laundering (AML) measures The Cryptonomist, [ 2 ]. Advancements in these areas, such as the rollout of Europe’s Markets in Crypto-Assets (MiCA) regulation and improvements in institutional custody, are seen as crucial for minimizing operational risks The Cryptonomist, [ 2 ]. The bank also points out that ongoing price stability and increased liquidity in both spot and derivatives markets are vital for Bitcoin to function as a reserve asset The Cryptonomist, [ 2 ].

While the U.S. dollar continues to dominate, the report notes that rising geopolitical divisions and inflation are boosting interest in “neutral” assets The Cryptonomist, [ 2 ]. Central banks in high-inflation regions like Latin America may gradually integrate Bitcoin, while those in Asia and the Middle East could consider it as part of broader diversification efforts The Cryptonomist, [ 2 ]. Despite the U.S. leading in crypto infrastructure, the report suggests it is unlikely to quickly adopt Bitcoin due to institutional barriers The Cryptonomist, [ 2 ].

Deutsche Bank’s analysis also explores the possible long-term effects on the global financial landscape. Should Bitcoin achieve reserve asset status, it could evolve from a speculative investment to a fundamental element of central bank holdings, much like gold’s transformation over the last hundred years CoinDesk, [ 1 ]. Nevertheless, the bank warns that this scenario depends on favorable market conditions, regulatory advancements, and continued reductions in Bitcoin’s volatility. Bank analysts estimate Bitcoin could reach $112,737 by 2025, with optimistic projections ranging from $1.5 to $2.4 million by 2030 The Crypto Basic, [ 3 ].

The report wraps up by stating that while it is feasible for Bitcoin to be included in central bank reserves, this outcome is contingent on several factors. Although Bitcoin’s scarcity and inflation-hedging features are similar to gold’s, its widespread adoption will depend on overcoming regulatory, liquidity, and volatility obstacles. As global liquidity shifts and central banks increasingly seek diversification, Bitcoin’s path to reserve status may mirror the gradual acceptance that gold experienced over many decades CoinDesk, [ 1 ].