Czech National Bank advances Bitcoin study for possible reserves

The probability of a European central bank with Bitcoin reserves has increased, despite recent comments from the president of the European Central Bank, Christine Lagarde, rejecting assets as unsuitable.

The Czech National Bank has approved A study to assess how Bitcoin (BTC) could serve as a reserve following a proposal from the Governor of CNB Aleš Michl.

Previously, Michl supported HAT The bank should diversify its investment portfolio and consider allocating funds to other asset classes, including Bitcoin. His proposal suggested allocation 140 billion euros in the CNB (145.6 billion dollars) in BTC reserves. “Based on the results of the analysis, the banking council will then decide how to continue,” said the CNB in ​​an announcement of January 30 after approving Michl’s study.

While Michl’s idea gained ground within the CNB, the highest banking official in Europe is not convinced. Coinciding with the CNB decision, the president of the ECB Christine Lagarde declared It is “confident” that no central bank of the EU will adopt Bitcoin as a reserve asset.

In particular, although the Czech Republic is a member of the EU, it does not use the euro as an official currency.

Bitcoin’s concept of national and institutional reserves is gaining momentum in Europe and beyond. In the United States, President Trump and several senators have worked on legislation to establish a BTC strategic reserve.

US states have also joined the race, while nearly a dozen jurisdictions presented Laws to buy BTC with dollars from taxpayers.