Czech National Bank Governor: Discussion by the Board Needed on Euro Reserve Investment in Bitcoin, Decision Not Expected Soon

BlockBeats News, January 29th, Czech National Bank Governor Aleš Michl stated in a post on X platform that the goal of the Czech National Bank is to maintain price stability. When he took office in July 2022, the domestic inflation rate in the Czech Republic was as high as 17.5%. Therefore, his mission during his term is to reduce inflation to the target level and achieve asset reserve diversification.

Aleš Michl said that the Czech National Bank will gradually increase its gold holdings, with the holdings increasing from 0% to around 5%, and plans to invest 30% in stocks. Bitcoin currently has zero correlation with bonds, making it an interesting asset for large portfolios and worth considering. Currently, it is still in the analysis and discussion stage. The Bank's Board of Directors will make a decision, and a decision will not be made quickly. A thoughtful analysis is needed.

In previous news, the Czech National Bank Governor stated in an interview with the Financial Times that if approved, the central bank would consider investing 5% of its €140 billion reserves in Bitcoin.