Could Bitcoin (BTC) soon find its way to the balance of a European central bank?
This option took at least a small step forward on Thursday after the Board of Directors of the Czech National Bank (CNB) approved a proposal to consider investing reserves in other assets.
The proposal was made by the central bank’s governor Aleš Michl, and was to study the investment of the bank’s reserves in “additional asset classes.” In an interview with FT earlier this week, however, Michl had made it clear that his interest in this exercise was to add Bitcoin as a reserve asset.
“My goal is to diversify the portfolio so if Bitcoin is good [for that]Then let’s have it, ”Michl said.
“Based on the results of the analysis, the banking board will then decide how to move on,” CNB said in his Thursday statement announcing the approval. “No changes will be implemented in this area until then.”
Not everyone in power in the Czech Republic approves the idea of exploring Bitcoin as a reserve option. “The central bank must symbolize stability,” the country’s Finance Minister Zbynek Stanjura told journalists on Thursday. “If you look at Bitcoin trade, it’s definitely not a stable asset.”
Michl’s proposal was also noted by the European Central Bank (ECB), whose President Christine Lagarde took time out of her press conference today to say she is sure that Bitcoin will not enter the reserves for any of the EU central banks .
The Czech Republic does not use the euro, but the country is in the EU.
CNB did not comment on the special assets it is considering.
