Bitcoin Could Join Gold on Centr Bank Balance Sheets in the Future

Gold and crypto are performing very differently in the short term—but one firm says the two could thrive side by side in the years ahead.

Nearly all crypto assets were in the red early this week.

“There is room for both gold and Bitcoin to coexist on central bank balance sheets by 2030,” Deutsche Bank analysts Marion Laboure and Camilla Siazon wrote in a recent note, Fernando Velasquez reported for Yahoo Finance.

That bullish outlook comes after Bitcoin (BTC-USD) fell sharply on Monday, slipping below $113,000 after briefly topping $123,500 in August.

Meanwhile, gold surged to a fresh all-time high of $3,703 per ounce, posting its biggest yearly gain in more than four decades.

The contrasting moves highlight the short-term divergence between riskier assets like crypto and traditional safe havens.

According to Deutsche Bank, traders are weighing geopolitical tensions, expectations of future Fed rate cuts, and questions about the central bank’s independence—all of which have fueled demand for gold.

Even so, the note highlighted that 2025 has been an “excellent” year for both assets.

For gold, demand remains elevated, driven by central bank purchases and investor appetite for stability.

A 2025 World Gold Council survey cited in the report found that 43% of central banks expect to increase their gold reserves over the next 12 months, while 95% anticipate global central bank reserves will rise.

Nearly all crypto assets were in the red early this week, with the total market capitalization dropping below $4 trillion since Sunday evening.

Bitcoin fell 3%, Ether dropped 6%, Solana slid 7%, and Dogecoin and World Liberty Financial each lost 10%.

Over the same period, $1.7 billion in crypto derivatives positions were liquidated, 94% of them bullish bets. The single largest wipeout—valued at $12.7 million—occurred on crypto exchange OKX, David Hollerith also reported for Yahoo Finance.