Deutsche Bank AG(US:DB) 智通财经网·2025-10-10 00:58Core Insights - Deutsche Bank's research indicates that central banks may significantly increase their holdings of Bitcoin and gold by 2030 due to rising institutional recognition and a weakening dollar [1] - The report highlights that Bitcoin could become a new "financial safety cornerstone" for central banks, akin to the role gold played in the 20th century [1] Group 1: Market Trends - Global demand for Bitcoin and gold is reaching historical highs, driven by economic uncertainty from U.S. tariff policies and geopolitical risks, prompting investors to hedge against inflation [1] - Gold has surpassed $4,000 per ounce, while Bitcoin's trading price is near its historical peak, reinforcing its status as an institutional "safe-haven tool" [1] - Since the 2008 financial crisis, the proportion of gold in central bank balance sheets has significantly increased, with central banks becoming net buyers of gold since 2010 [1] Group 2: Dollar De-dollarization - The rise in gold prices is closely linked to the de-dollarization process, with the dollar's share in global reserves dropping from 60% in 2000 to an estimated 41% by 2025, benefiting both gold and Bitcoin [5] - In June, net inflows into gold ETFs and Bitcoin ETFs reached $5 billion and $4.7 billion, respectively, both setting monthly records [5] Group 3: Contrasting Views - There are opposing views, such as those from JPMorgan analysts, who suggest that stablecoins may create new demand for dollars, potentially leading to an additional $1.4 trillion in dollar demand by 2027 [5] - Deutsche Bank's economist, Marianne Laubrey, argues that both Bitcoin and gold cannot fully replace the dollar and should serve as a "supplement" to sovereign currencies within central bank reserves [5] - Laubrey notes that as volatility decreases and regulatory support from countries like the U.S. and China increases, market confidence in digital assets is strengthening [5]