Discussion
Head of marcelinho wants to buy billions of euro in bitcoin but doesn't own the printers
There’s a deal on at Amazon right now 😂
based
2 weeks ago, this guy said "How could a central bank trust this Bitcoin? No one has even seen its code."
He got trolled and schooled hard about it.
Maybe he learned some from it, but I doubt it's been enough to fully convince himself, and the majority of the voting members to buy in.
On the other hand, I can see that he might tempted to be forever remembered as The Esteemed And Brave central banker, who placed a little bet and made a history by retiring his nation. He's very much an ego guy, and former investment banker.
“No one has even seen its code” 😂😂😂😂😂🤣🤣🤣🤣🤣🤣
Czech National Bank aready backpedaled the hype.
==
Aleš Michl
Czech National Bank’s goal is price stability. When we took office in July 2022, inflation was 17.5%. We brought it down to target. We are also diversifying reserves—gradually increasing gold holdings from 0% to around 5% and planning for 30% in equities. An asset under consideration is Bitcoin. It currently has zero correlation to bonds and is an interesting asset for a large portfolio. Worth considering. Right now, it’s only at the stage of analysis and discussion. The Bank Board decides, and no decision is imminent. Thoughtful analysis is needed.
Bitcoin has significant volatility, which makes it harder to take advantage of its current low correlation with other assets. That’s why I will ask our team on Thursday to further assess Bitcoin’s potential role in our reserves. Nothing more, nothing less.
The article is very accurate, including my statement that Bitcoin could one day be worth either zero or a huge amount. I highly recommend reading the full piece—FT journalist
@RaphaelMinder
is a pro.
@CNB_cz
==