Czech National Bank Approves Proposal to Study Bitcoin as Reserve Asset
The Czech National Bank (CNB) has approved a proposal to explore the possibility of investing reserves in additional asset classes, including bitcoin. This proposal, initiated by CNB Governor Aleš Michl, aims to diversify the bank's portfolio. Despite Michl's interest in considering bitcoin as a reserve asset, the idea has faced opposition from notable figures, including Finance Minister Zbynek Stanjura, who emphasizes that central banks should symbolize stability. He asserts that bitcoin's volatility contradicts this principle. Furthermore, European Central Bank President Christine Lagarde publicly reaffirmed her confidence that bitcoin will not be included in the reserves of any EU central bank. As the Czech Republic remains an EU member state but does not use the euro, discussions around the CNB's reserve strategy are particularly significant. The CNB has not disclosed specific assets under consideration yet, and no immediate changes will occur until the study concludes.
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