Czech

The CNB board discussed a document on the management of international reserves in 2024, focusing on investment diversification. According to the governor, Aleš Michl, it is worth considering whether the addition of other asset classes could be suitable for the reserves to further improve diversification and returns. Over the last two years, the central bank has actively diversified its investments as part of its strategy in managing reserves.
Meanwhile, the CNB is actively searching for new channels for investments to generate higher returns from its reserves. However, whether to invest euro reserves in Bitcoin is a pending decision-and is not expected anytime soon. Last year, the governor himself told reporters that such an issue must be debated further by the board. At this moment, CNB has already been taking giant leaps toward the path of reserve management optimization. This will also help the bank in determining the course of its international reserves in the year 2024.
#Czech #Reserve #diversify

The president of the #Czech National Bank, Ales Michl, who gave positive responses to the purchase of Bitcoin in the past weeks, will propose that the official institution add BTC to its reserves. It is stated that if the proposal is approved by the board of directors, the bank can buy #bitcoin with 5% of its total reserves of 140 billion euros. This corresponds to approximately 7 billion euros.
The number of countries in the world that are considering adding Bitcoin to their reserves is increasing day by day. The President of the Czech National Bank (CNB), Ales Michl, who made positive statements on this subject in the past weeks, stated that they can buy Bitcoin with 5% of their total reserves and that it was presented to the board of directors.
“A protection tool against economic returns…”
According to the news of the Financial Times, one of the biggest players in the financial media; Michl stated that despite the extreme volatility in Bitcoin, the largest cryptocurrency is also a protection tool against economic returns. Michl stated that especially institutional institutions such as BlackRock are closely following his steps and presenting this proposal.
There will be a meeting on January 30
If the Czech Central Bank management approves this proposal, this step will be a first in Europe. The proposal can be given at the congress on January 30. Or the process can be extended further for discussion. If this purchase of 7 billion euros is made, the Czechs' single purchase will be equal to the newly released BTC cut in 5 months.
#MicroStrategyAcquiresBTC #BinanceAlphaAlert #BTC