Central Banks Are Rushing Into Gold: 400 Tons in Q3 2022 for $20B. And Soon Bitcoin?
In the new world that is coming, gold will regain its place, which will ultimately benefit Bitcoin.
The latest report from the World Gold Council (WGC), the Bitcoin Mining Council's counterpart for gold, was just released. This report shows a 28% increase in global gold demand in Q3 2022 compared to Q3 2021.
Where things get interesting is that central banks alone bought 400 tons of gold, or about $20 billion worth. Since the beginning of 2022, central banks have purchased 673 tons of gold, a figure not seen since 1967!
Among the big buyers of gold are the central banks of Turkey, Uzbekistan, Qatar, and India.
The question this raises is clear: why are central banks flocking to gold?
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