Central Bank Governor Says “Fear Not, Study Bitcoin!”

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In a shocking revelation, Aleš Michl, the governor of the Czech National Bank (CNB), has declared that Bitcoin should be broadly studied by central banks, not feared. This comes as a breath of fresh air in the stuffy world of finance, where Bitcoin has long been treated with suspicion and disd.

“We central bankers should study it and explore the technology it is built on. Studying Bitcoin won’t harm us—on the contrary, it will strengthen us.”

Michl’s comments come nearly three weeks after he shared a proposal for creating a Bitcoin “test portfolio” with the CNB’s bank board meeting on Jan. 30. The governor emphasized that this is only the “initial stage of the analysis” and that a final decision will depend on the outcome of the analysis.

While Bitcoin is an interesting asset “worth considering” for a large portfolio, the board of the bank will need to provide “thoughtful analysis,” before making its final decision, wrote Michl in a Jan. 29 X post.

Czech National Bank Mulls Over $7 Billion Bitcoin Reserve Plan

The CNB may become the first European central bank to invest in Bitcoin if the proposal is approved. If approved, the investment may amount to over $7.3 billion in Bitcoin purchases, given the CNB’s total reserves of more than $146 billion, according to André Dragosch, head of research at Bitwise.

Dragosch noted the significance of the proposal in a Jan. 29 post on X, writing:

“These BTC purchases alone would be equivalent to around 5.3 months of newly mined Bitcoin supply.”

Still, Bitcoin remains pressured by ongoing trade tensions between the US and China, according to Vugar Usi Zade, chief operating officer at Bitget.

So, central bankers, it’s time to put on your thinking caps and dive into the world of Bitcoin. Who knows, you might just find a shiny new reserve asset waiting for you! 😉

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2025-02-19 15:30