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.
âA protection tool against economic returnsâŠâ
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.