Czech National Bank considers 7 billion euros Bitcoin investment, distorting the discussion

After the Czech National Bank’s Committee (CNB) approved a proposal for analyzing the possibility of investing part of its reserves in Bitcoin (BTC), Governor Ales Michl attracted mixed answers. With about 7 billion euros on the line, which is 5 percent of international CNB reserves that are likely to be invested in Bitcoin, different reactions led by colleagues of central bankers from European countries have emerged from different sectors.

For example, the President of the European Central Bank Christine Lagardo rejected the idea of ​​central banks in a block that adopted Bitcoin as a strategic reserve property. La Lascon has recently noted that Bitcoin does not fill all the sets of assets that will be included in the Bank reserve.

Moreover, Michl admitted that Bitcoin was extremely unstable and that his value could one day be a zero or a very huge number.

“Of course, if you compare my position with other bankers, then I am the one who enters the jungle or pioneer. I used to run an investment fund, so I’m a typical investment banker, I would say, I love profitability,” Michl remarked.

However, the crypto community is advocated by the Czech National Bank to adopt Bitcoin as a strategic reserve property.

The rhythm changes

The administration of Donald Trump has launched a potential revolution for the United States using the emergence technology led by blockchain and artificial intelligence. Already, 22 countries in the United States have introduced a proposal for the Diversification of their Reserve in Bitcoin, which is the front leadership of the Federal Government.

The main adoption of bitcoin by institutional investors has convinced more global central banks to consider digital property in the near future.

Furthermore, El Salvador scored significant steps with his Bitcoin strategy despite the winds caused by the IMF.