According to Deutsche Bank analysts Marion Laboure and Camille Siazon, the transformation of Bitcoin into a central bank reserve asset no longer seems like a fantasy.
In a recent research note, the strategists wrote that kriptovalyuta is increasingly resembling gold and could become part of official reserves by 2030.
In their view, Bitcoin’s declining volatility, growing liquidity and the fixed supply volume make it a viable addition to central bank balance sheets.
Their forecast coincided with Bitcoin reaching a record high above $126,000 this week, and gold prices approaching $4000 an ounce.
Both assets are rising amid increased demand from central banks and corporations seeking alternatives to the US dollar and traditional assets.
In 2025, the price of gold rose by more than 50%, the highest annual increase since 1979. In response, Goldman Sachs raised its target price for gold to $4900, supported by robust demand from emerging market central banks.
Bitcoin is not considered a reserve asset, but is beginning to show similar demand trends. Michael Saylor’s Strategy Company has also placed a bet on Bitcoin as a digital reserve asset.
According to Labour and Siazon, Saylor’s strategy contributes to the asset’s emergence as a reserve asset in the eyes of institutional players.
Bitcoin «It’s not backed by anything,» the analysts acknowledged. «But gold isn’t backed by anything either. The difference is that Bitcoin’s volatility is currently at historically low levels, making it much more attractive to long-term holders.»