Aleš Michl, governor of the Czech National Bank (CNB), recently expressed his interest in Bitcoin (BTC), saying that central banks should study it rather than fear it. In a recent post, he stressed that the BTC has a unique technology that should not be assimilated to other digital assets.
Bitcoin must be studied and not feared! According to the governor of the Czech National Bank
“We, central bankers, should study it and explore the technology on which it is built. Studying Bitcoin will not hurt us – on the contrary, that will strengthen us, “said Aleš Michl, governor of the Czech National Bank (CNB).
These statements come three weeks after he presented, at a meeting of the CNB council on January 30, a proposal to create a “test portfolio” in Bitcoin. The purpose of this initiative is to analyze this highly volatile asset and to experience its use in the central bank reserves.
However, Michl said that this initiative is only its initial analysis phase. Any final decision will depend on the results of the evaluation carried out by the CNB.
A potential investment of $ 7.3 billion
If the proposal is validated, the CNB could become the first European central bank to integrate Bitcoin into its official reserves. The plan plans an investment of up to 5 % of the bank's total reserves, or about $ 7.3 billion.
According to André Dragosch, research manager at Bitwise, such a purchase would have a significant impact on the BTC market. He indicated that these acquisitions would represent approximately 5.3 months of the newly undermined offer of Bitcoin.
A cautious approach to the volatility of Bitcoin
Although this initiative arouses interest, it also raises concerns, especially due to the volatility of Bitcoin. Many financial institutions remain skeptical about the integration of cryptocurrencies into official reserves, fearing their unpredictability and uncertain regulation.
Despite Christine Lagarde's opposition on the insertion of the BTC into the central banks, if the CNB were to approve this proposal, this would mark a turning point in the institutional recognition of Bitcoin in Europe. And could even inspire other central banks to explore this path.
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