Central banks across the world are ramping up their gold purchases

According to a report by The Kobeissi Letter on X, mentioning data from IMS IFS and the Global Gold Council, nations accumulated 24 tonnes of gold in February

Central banks across the world are continuing to ramp up their gold purchases amid major economic uncertainty surrounding the global macroeconomic landscape.

What Happened: According to The Kobeissi Letter on X, quoting data from IMS IFS and the Global Gold Council, nations accumulated 24 tonnes of gold in February, the most since November of last year.

This marks the 20th consecutive month of net gold buying over the last 21 months. Over the last 3 years, central banks have purchased a whopping 3,176 tonnes of gold.

By 2024, the most likely reason why nations were accumulating gold was the threat of a ‘de-dollarized’ economy. Last year, we reported how gold reserves had hit their respective all-time highs as major players in the BRICS bloc aggressively expanded their holdings.

At the time, this was seen as a step toward reshaping global trade, shifting power away from the U.S. dollar as the dominant reserve currency. Now, with the U.S. threatening to increase tariffs on pretty much all trading partners, the argument for de-dollarized trade could gain even more footing moving forward.

Will Central Banks Also Stockpile Bitcoin?

As global banks continue in their gold rush, speculations of bitcoin acquisition also grow. A report released by Fidelity anticipates that nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic Bitcoin reserves moving forward.

In that sense, the U.S. took a major step forward by introducing its Strategic Bitcoin Reserve a couple of weeks ago.

As we head into uncertain times for the world’s economy, major BTC treasuries could mean a lot more than simple value appreciation for countries. With expectations that inflation rates will go up and fiat currency deficit — allocating Bitcoin could protect nations from currency devaluation and global financial instability.

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