In the next 2 to 5 years, we expect gold and Bitcoin to stop being seen as competitors and act as a dual reserve standard. While physical gold anchors the reserves of nation-states in the face of deglobalization, its tokenized version will become the "base currency" of Layer 2 (L2) networks for cross-border payments.

Mass adoption will come hand in hand with fractionalization. By 2028, it will not be uncommon for a citizen in a conflict zone to preserve their purchasing power by buying "milligrams" of gold through a mobile app, with the same ease as sending a text message today.