Czech Central Bank plans to vote on US$7 billion bitcoin reserve proposal, finance minister warns of risk of BTC volatility
Internet reports that the Czech National Bank (CNB) will vote on a $7 billion bitcoin reserve proposal today, but Czech Finance Minister Zbynek Stanjura warned of Bitcoin's high volatility and believed it did not meet the central bank's stability requirements. CNB President Michl plans to propose investing up to 5% of reserves in Bitcoin, pointing out that market interest in Bitcoin has continued to grow since institutions such as BlackRock launched the BTC spot ETF. However, he also acknowledged the high volatility of BTC and said its potential role in central bank reserves still needed to be further evaluated. If the proposal is approved, the CNB may hold at least $7 billion in Bitcoin, accounting for part of its total reserves of $146 billion. The proposal has received some support in the Czech industry. Trezor analyst Lucien Bourdon said that the Czech Republic has long been a forefront country in Bitcoin innovation, including the world's first mining pool, hardware wallet and large Bitcoin conference.
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