research

there is a big debate about $BTC as reserve currency. Opponents argue it's only a wealth transfer and supports the industry for no reason (e.g., https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4985877). While I am not a proponent either, for a fair comparison, I would be curious if anybody knows research on the effects of central bank's gold purchasing on a) gold price b) its distributional effects in terms of wealth (e.g., who holds gold and profits from central bank intervention) and c) supply chain effects (e.g., cost of capital for mining companies, equipment producers etc.)