Bitcoin sees reserve debate as China adds gold

A prominent gold advocate claims China is too smart to care about Bitcoin, asserting the country is buying gold instead. The assertion has revived the bitcoin vs gold reserve debate.

Public reserve commentary indicates China has been adding to its bullion stockpile, while no official disclosures confirm sovereign Bitcoin holdings. As reported by the Financial Times, gold recently overtook the euro as the second-most held reserve asset globally.

According to Coinpedia, estimates place China’s gold reserves around 2,299–2,306 metric tons by mid‑2025, alongside an unverified claim of roughly 190,000 BTC and $319 billion in gold. The Bitcoin figure has not been corroborated in official reports.

It is also important to distinguish official reserves from assets held via law‑enforcement seizures, state‑linked enterprises, or private institutions. Those categories do not automatically appear on a central bank balance sheet.

Why central banks prefer gold over Bitcoin today

According to Deutsche Bank, gold’s share of central bank reserves has climbed toward roughly 24%, the highest since the 1990s. The bank also flags Bitcoin’s volatility, liquidity depth, and regulatory uncertainty as short‑term barriers to reserve adoption.

The World Gold Council argues cryptocurrencies do not replicate gold’s safe‑haven behavior or institutional trust built over decades. The group also warns against the so‑called gold 2.0 narrative.

“China is ‘too smart’ to care about Bitcoin; they’re ‘buying gold’,” said peter schiff, a long‑time gold advocate and fund manager.

In the near term, reserve‑management narratives favor gold’s liquidity, legal clarity, and collateral utility, while the Bitcoin debate persists. As noted by Central Banking, Fed Chair Jerome Powell has framed Bitcoin as competing with gold rather than the U.S. dollar.

At the time of this writing, Barrick Gold Corporation (NYSE: GOLD) last closed at 51.48, based on Yahoo Finance data. That backdrop underscores continued interest in bullion‑linked exposure without implying directional views on spot gold.

What to watch next in gold versus Bitcoin reserves

What exactly did Peter Schiff claim and is it supported by data?

The claim is that China favors gold and ignores Bitcoin. Public reserve disclosures point to sustained gold accumulation, while there are no confirmed official disclosures of Chinese sovereign Bitcoin holdings.

Could Bitcoin appear on central bank balance sheets by 2030?

Some institutional research and academic work argue Bitcoin shares reserve‑hedging traits and could appear on balance sheets later this decade, contingent on regulation, liquidity, and operational readiness. As reported by Forbes, El Salvador remains the only public sovereign holder today.

FAQ about China gold reserves

How much gold does China hold in 2025 and how fast is it buying?

Public estimates place holdings in the low‑2,300‑ton range by mid‑2025, with continued accumulation. Exact month‑to‑month buying speed is not officially disclosed.

Why do central banks prefer gold over Bitcoin as a reserve asset?

Gold offers deep liquidity, cross‑jurisdiction acceptance, and mature collateral markets. Bitcoin faces higher volatility, evolving regulation, and limited central‑bank operational frameworks.