Gold for nations, BTC for the folks
As central banks embrace simple cash, governments are buying gold at historic charges: 830 tonnes annualized in 2025, with 23 nations growing reserves within the first half alone.
Supply: X
This follows three consecutive years of above-average accumulation — 1,080 tonnes in 2022, 1,051 in 2023, and 1,089 in 2024 — making it the sixteenth straight 12 months of web purchases, the longest streak on report.
Previous to 2010, central banks were net sellers for 21 years.
Bitcoin is on an identical tangent.
Supply: CryptoQuant
Lengthy-term holders management near-record provide, trade balances are shrinking, and institutional demand is rising.
Traders more and more deal with BTC as a digital counterpart to gold, a scarce hedge asset, as international easing and rising danger urge for food drive demand for different shops of worth.
