In a rather audacious display of ambition, the head of the Czech Republic’s central bank recently reiterated his earlier proclamations, boasting of plans to hoard Bitcoin like a squirrel preparing for winter. This revelation, as reported by the Financial Times, has sent ripples of intrigue through the financial community.
On the following day, the Czech National Bank (CNB) announced its intention to scrutinize the potential of introducing new asset classes into its reserves, with many speculating that Bitcoin might just be the shiny new toy they’re eyeing.
Czech Central Bank Ready to Hodl Bitcoin
“Those fellows from the Trump camp might just inflate a bubble for Bitcoin, but I daresay the trend would rise even without their antics, as it serves as an alternative investment for the masses,” mused Michl, the central bank chief, with a twinkle of mischief in his eye. He did concede that this venture is rather unconventional and fraught with peril.
“If you were to compare my stance with that of my fellow bankers, I’d be the brave soul venturing into the jungle, the pioneer of sorts,” he quipped. “Having once managed an investment fund, I suppose I fit the mold of a typical investment banker. Profitability is my middle name!”
However, he was quick to clarify that the intention behind adding Bitcoin to their portfolio is not to dive headfirst into the deep end, à la El Salvador’s President Nayib Bukele. Rather, it’s a cautious step towards diversifying the Czech bank’s holdings.
“The outcomes could range from Bitcoin being worth a mere pittance to it skyrocketing in value. My aim is to diversify our portfolio, so if Bitcoin proves to be a gem, then why not?” he stated, with a hint of optimism.
Earlier this month, while chatting with a CNN affiliate, Michl hinted that the bank was contemplating the acquisition of “a few Bitcoin,” as if they were merely picking up a few trinkets at a market.
Sen. Lummis Sounds Alarm on Global BTC Race
“If you’re not first, you’re last! America must act swiftly to establish a Strategic Bitcoin Reserve and secure its rightful place in the 21st century,” declared Senator Cynthia Lummis, channeling her inner race car driver on January 29, 2025.
The Financial Times noted that the US central bank has no immediate plans to join the Bitcoin bandwagon. In December, Federal Reserve chair Jerome Powell stated, “We are not seeking a law change at the Fed,” as if he were dismissing a pesky fly.
Nevertheless, several US policymakers, alongside the new White House administration, are contemplating a strategic digital asset stockpile, possibly under the auspices of the US Treasury.
This includes Senator Cynthia Lummis (R-WY), who reiterated her call for urgency in a post on X, “If you’re not first, you’re last! America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century.”
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2025-01-31 21:07