The Czech National Bank (CNB) has approved a proposal to evaluate the feasibility of investing a portion of its reserves in Bitcoin.
In an official statement, CNB highlighted the ongoing diversification efforts in the management of national reserves over the past two years. "The Central Bank is increasingly diversifying its investments as part of its reserve management strategy," CNB said, adding: "On the proposal of Governor Aleš Michl, the CNB will assess whether the inclusion of other asset classes in reserves would be appropriate in terms of diversification and returns."
The bank emphasized that no immediate changes would be made, along with the steps to be taken depending on the results of the evaluation. If Bitcoin is included, CNB will be the first central bank known to hold BTC reserves.
Lucien Bourdon, a Bitcoin analyst at Trezor, a Czech hardware wallet manufacturer, described this move as a historic moment. Bourdon said, "If approved, this decision could be a milestone not only for the Czech Republic, but also for the global adoption of Bitcoin as a tool for national economic strategy."
When evaluating this move, Christine Lagarde, the President of the European Central Bank, confirmed her opposition to Bitcoin as a central bank reserve asset within the Eurozone, citing concerns over liquidity, security, and regulatory oversight. However, the policies of the Czech Republic, which operates outside the Eurozone, are not subject to ECB directives.
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Another Confirmation for Bitcoin (BTC) from the Central Bank of the Czech Republic! Can ECB President Lagarde's Statements Stop the Czech Republic?
The Czech National Bank (CNB) has approved a proposal to evaluate the feasibility of investing a portion of its reserves in Bitcoin.
In an official statement, CNB highlighted the ongoing diversification efforts in the management of national reserves over the past two years. "The Central Bank is increasingly diversifying its investments as part of its reserve management strategy," CNB said, adding: "On the proposal of Governor Aleš Michl, the CNB will assess whether the inclusion of other asset classes in reserves would be appropriate in terms of diversification and returns."
The bank emphasized that no immediate changes would be made, along with the steps to be taken depending on the results of the evaluation. If Bitcoin is included, CNB will be the first central bank known to hold BTC reserves.
Lucien Bourdon, a Bitcoin analyst at Trezor, a Czech hardware wallet manufacturer, described this move as a historic moment. Bourdon said, "If approved, this decision could be a milestone not only for the Czech Republic, but also for the global adoption of Bitcoin as a tool for national economic strategy."
When evaluating this move, Christine Lagarde, the President of the European Central Bank, confirmed her opposition to Bitcoin as a central bank reserve asset within the Eurozone, citing concerns over liquidity, security, and regulatory oversight. However, the policies of the Czech Republic, which operates outside the Eurozone, are not subject to ECB directives.