德银：黄金与比特币未来或同列央行储备

Core Viewpoint - Deutsche Bank predicts that gold and Bitcoin may develop alongside each other in the coming years, with both potentially appearing on central bank balance sheets by 2030 [1][4]. Group 1: Market Trends - Bitcoin recently fell below $113,000, while gold reached a historic high of $3,703 per ounce, highlighting the short-term divergence between high-risk assets like cryptocurrencies and traditional safe-haven assets [1]. - The demand for gold is driven by geopolitical tensions, expectations of Federal Reserve rate cuts, and its status as a stable store of value [1][3]. Group 2: Future Outlook - Deutsche Bank's report emphasizes that 2025 will be an excellent year for both gold and Bitcoin [2]. - A survey by the World Gold Council indicates that 43% of central banks plan to increase their gold reserves in the next 12 months, with 95% expecting a rise in global central bank reserves [3]. Group 3: Institutional Adoption - Despite recent volatility, Bitcoin's overall performance remains resilient, with its volatility reaching historical lows, indicating increasing acceptance among institutional investors [3]. - Over 180 companies have incorporated cryptocurrencies into their balance sheets, with MicroStrategy being a notable example, having accumulated over $70 billion in Bitcoin [3]. Group 4: Long-term Considerations - The report raises questions about the future structure of central bank reserves as the dollar's share of global reserves is projected to decline from 60% in 2000 to 43% in 2024 [4]. - Deutsche Bank analysts believe that prudent allocation of Bitcoin could complement traditional assets, despite the ongoing high demand for gold [4].