>
Central banks definitely don't own gold because it's such a useful commodity. Are central banks gold bugs?Are central banks retail investors? Are they buying gold to "to free the world or whatever"? No [1]?
Gold and silver have deep precedence as money. This leads to them trading as haven assets, i.e. their price rises when financial conditions deteriorate. Bitcoin doesn't. It trades as a risk asset, i.e. its price falls when financial conditions deteriorate. This could change! But that's true of literally every thing traded.
[1] https://www.bis.org/publ/work906.pdf
