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yesterday , Central Bank of the Czech Republic I decided to accept the request of its president, and the feasibility evaluation and the opportunity to revitalize a Bitcoin reserves.

the An official press release The bank states that the Board of Directors of the Czech National Bank (CNB) has agreed to a proposal to analyze the capabilities of investment in additional assets categories, based on the proposal of the ruler Alex michl.

Reserves in Bitcoin: The idea of ​​the Central Bank of the Czech Republic

MichaelIn fact, it has previously given Interview with the Times Financial In which he suggested that the Czech Central Bank consider retaining billions of dollars in its reserves in the form Bitcoin.

However, the ruler was identified from the beginning that it was just an idea that was still under analysis, adding that there is no immediate decision regarding it.

Yesterday’s decision before CNB It specifically goes in this direction, because it only accepts the proposal to assess the feasibility and opportunity of such an initiative, without now approving it or rejecting it.

If this initiative passes, it will be the first west Centrale From ever Reserves in BTC.

In fact, central banks usually have reserves in conservative assets and stay away from the most dangerous assets. Moreover, many central banks have long warned citizens of the risks involved in investing or speculating financial assets on risk.

In fact, to say the truth, As of today, it seems that there is no major central bank in the world that owns BitcoinAlthough there are many public entities, even the task you keep.

European Central Bank and other central banks

It is not a coincidence after that Michel’s interview with Financial TimesEuropean Central Bank Governor (ECB), Christine LagardeFrankly, she said that she does not expect any central bank in the euro area Bitcoin In their short term reserves.

Lagarde In her speech, her colleagues explicitly states CNBAlso because Czech Republic It is part of the European Union. However, the Central European state is not part of the eurozone, to the extent that the central bank is not among those who subscribed to the shares of capital in B.C.E..

However, a member of the General Council of the European Central Bank is the Czech Jiří Rusnok, with whom I discussed the topic of Lagarde. Reserves in Bitcoin.

In fact, the Czech Republic has already begun on the way to adopting the euro instead of its crown, but it has not yet completed it into the euro area. At this moment, adhesion is suspended in the euro area.

Alice Michael’s story

Michael took over the leadership of the Czech Central Bank in 2022.

He is a Czech economic expert, a former strategic investment for a commercial bank, as well as the co -founder of the Al -Khwarizmi Asset Management Fund.

When he took office, the country’s inflation rose to 17.5 %, and then reached a peak of 18 % after a few months. Now the Czech Central Bank was able to return it to 3 %In a line, for example with the United States of America and not much higher than the euro area.

Moreover, under its leadership, CNB began buying gold and increasing the share of the shares in its reserves of foreign exchange reserves, to improve the expected return on the bank’s assets.

It can be defined at the same time as a specialized and effective official, but he is also innovative, and all this facilitates the understanding of the reasons that make him suggest an evaluation Bitcoin in the bank reserves.

The potential bitcoin reserves of the Czech National Bank (CNB)

Michel’s idea is to authorize the Czech Central Bank to adhere to it 5 % of its reserves in BTC.

CNB is currently he has 140 millisee de euro In reserves ($ 146 billion), so the maximum ceiling set at the current time may just end Seven billion dollars.

Note that it will be a higher number of the current market value of BTC, for example, by ETF from coffin (ARKB), not much less than those in Bitcoin that you keep pregnancy.

However, it should be noted that this maximum, not the amount that the bank may want to invest in BTC. Moreover, the decision has not yet been taken over the potential investment, and it seems that it will take a long time before the bank categorically expresses itself in this regard.

Michl also stated that X that Bitcoin has great fluctuations, and this makes it difficult to take advantage of its current low association with other assets.

CNB’s ruler’s words are definitely careful, but at least look open to capabilities.

In fact, to the times of the Financial Times, he also stated that investment by the central bank in Bitcoin may be useless or may have a “very wonderful value”. He also added that he believed that Bitcoin will continue to grow even without the potential support of the American president, because it represents an alternative investment for many people.

Suspension

One of the world’s main encryption companies, TrezourIt was established and is still based in the Czech Republic.

Bitcoin analyst in Trezor, Lucian PurdonShare an exclusive comment with the encryption expert regarding the idea of ​​Michl:

“The Czech Republic has long been at the forefront of the innovation of Bitcoin – the home of the first mining gathering, the first wallet for devices, and one of the largest bitcoin conferences in Europe. Now, the country has been developed to take a historical step. The Czech National Bank (CNB) will discuss allocating up to 5 % Of his 140 billion euros reserves in Bitcoin. If approved, this decision may determine a turning point – not only for the Czech Republic, but for the global accreditation of Bitcoin as a tool for the national economic strategy.

Bitcoin enables individuals by giving them control of their wealth without relying on third parties. But countries, too, can harness Bitcoin’s characteristics to enhance their sovereignty. If a country succeeds in integrating bitcoin in its reserves-which are self-reclined and outside foreign regulatory control-it is gaining hedging against cash and external economic pressure.

On paper, the debate on Bitcoin reserves appears to be a financial debate, but in reality, it is equally political and philosophical discussion. Central governments and banks are forced at the expense of a monetary system in which they do not control, while others are not ready for this transformation. But writing on the wall. With inflation erosion, the Pitcoin purchase continues and the Bitcoin continues to grow, the question is not whether the central banks should carry Bitcoin – but whether they can not tolerate. “

After the President of the European Central Bank, Christine LagardeThe Czech bank’s proposal refused, Bordon continued by saying:

“If money laundering and financial crime are the criterion to exclude assets from the Central Bank reserves, the euro itself should not be examined in view of the traditional bank record?

Bitcoin transactions transparent. Traditional banking scandals occur behind closed doors. What is a really more responsibility system?

Lagarde says that bitcoin is not suitable for reserves because it should be “liquid, safe and safe.” However, Bitcoin is one of the most liquid origins in the world, as it is circulated around the clock throughout the week without the need for a tip. The euro, on the other hand, is a complex system of tied currencies that require continuous intervention to assemble together. What, exactly, unstable here?

The European Central Bank claims that Bitcoin is very unstable for reserves, but central banks have reduced their own currencies through endless stimulation, rescue operations, and price treatment. The real issue is not stability – it controls. Bitcoin represents a critical system that they cannot print, and for this reason they fear it“.