Czech National Bank Skeptical About Bitcoin as Reserve Asset Amid Legal and Volatility Concerns

On March 20th, COINOTAG News reported insights from Reuters regarding the stance of the Czech National Bank (CNB) on Bitcoin. Jan Kubicek, a board member, expressed skepticism about integrating Bitcoin into the CNB’s substantial reserve assets. His concerns predominantly revolve around the legal uncertainties and inherent volatility associated with digital currencies. Furthermore, the CNB’s vice president, Eva Zamrazilova, echoed this sentiment, underscoring that Bitcoin does not meet the criteria for a reliable reserve asset. Earlier this year, in a forward-thinking move, Aleš Michl, the newly appointed Governor of the CNB, suggested considering a 5% allocation of the bank’s €140 billion reserves towards Bitcoin as a potential strategy for asset diversification. This proposal reflects a growing interest in cryptocurrencies, even amid institutional caution.