š°š· While $BTC Enters Sovereign Reserves, South Korea Is Going Back to Gold
The Bank of Korea just disclosed a $250.4M position in SPDR Gold Shares - its first new gold exposure in 13 years. The position gives it exposure to gold prices, while its physical reserves remain unchanged at 104.4 tonnes.
And Korea isn't alone: central banks bought a net 289 tonnes of gold in Q2, a record for any second quarter. Poland added 51 tonnes and China 33 tonnes.
At the same time, the US already has a Strategic Bitcoin Reserve, El Salvador continues its state Bitcoin strategy, and the Czech National Bank is testing $BTC and other digital assets in a small portfolio.
Bitcoin is slowly becoming part of sovereign portfolios too, but when central banks want reserve exposure at scale, gold is still the default.
#Macro Insights# #BTC Price Analysis#
The Bank of Korea just disclosed a $250.4M position in SPDR Gold Shares - its first new gold exposure in 13 years. The position gives it exposure to gold prices, while its physical reserves remain unchanged at 104.4 tonnes.
And Korea isn't alone: central banks bought a net 289 tonnes of gold in Q2, a record for any second quarter. Poland added 51 tonnes and China 33 tonnes.
At the same time, the US already has a Strategic Bitcoin Reserve, El Salvador continues its state Bitcoin strategy, and the Czech National Bank is testing $BTC and other digital assets in a small portfolio.
Bitcoin is slowly becoming part of sovereign portfolios too, but when central banks want reserve exposure at scale, gold is still the default.
#Macro Insights# #BTC Price Analysis#