Updated Jan 29, 2025, 3:00 p.m. UTCPublished Jan 29, 2025, 7:16 a.m. UTC
Czech National Bank Governor Ales Michl said in an interview with Financial Times (FT) that he will present a bitcoin investment plan to the board on Thursday, which, if approved, could see the apex bank diversify 5% of its $146.13 billion reserves into the leading cryptocurrency by market value.
“For the diversification of our assets, bitcoin seems good,” Michl said, according to an interview published by the FT and quoted by Reuters.
Michl pointed to broader investor interest in the cryptocurrency since BlackRock and others debuted spot ETFs a year ago.
“An asset under consideration is Bitcoin. It currently has zero correlation to bonds and is an interesting asset for a large portfolio. Worth considering. Right now, it’s only at the stage of analysis and discussion. The Bank Board decides, and no decision is imminent. Thoughtful analysis is needed,” Michl said in a statement on X.
“Bitcoin has significant volatility, which makes it harder to take advantage of its current low correlation with other assets. That’s why I will ask our team on Thursday to further assess Bitcoin’s potential role in our reserves. Nothing more, nothing less,” he added.
Your email address will not be published. Required fields are marked *
[…] January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new…
Your writing is like a breath of fresh air in the often stale world of online content. Your unique perspective…
I would like to share my story and express my great gratitude to Maria. My husband Alexander was literally taken…