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In the last development, the Czech National Bank Committee approved a proposal for analysis of investment in additional assets on Thursday, including Bitcoin.
CNB has noticed the UA statement That the central bank has increasingly diversified its investments in the last two years as part of its reserve management strategy.
“At the proposal of Governor Aleš Michl, CNB will evaluate whether it will be appropriate in terms of diversification and return to the involvement and other classes of assets in the reserves,” it is said.
The committee said he would decide the following steps after the situation analysis, without changes until then. All new reserve investments will be discovered in quarterly and annual reports. Exceptionally, if Bitcoin is added, CNB would be the first central bank to hold it.
CNB Governor Aleš Michl recently announced plans to introduce BTC reserves, calling him a change of games. The National Bank aims to invest at least 5% out of its 140 billion euros in Bitcoin. However, the Minister of Finance expressed concern about Bitcoin’s instability and volatility. He claimed that Bitcoin was not suitable as a national reserve because of its very unstable nature, and emphasized that the Government could not overcome CNB decisions.
However, the movement of the Czech National Bank to explore Bitcoin as part of its spare strategy marks a brave step towards diversification. The decision will be carefully analyzed, and if approved, it could set a precedent for other central banks, and CNB potentially becomes the first to hold Bitcoin in its reserves.
