“The Board of Directors of the Czech National Bank (CNB) will consider diversify the state reserve by investing in bitcoin. The relevant initiative was the head of the regulator Alesh Mikhl, writes Financial Times. It proposes to place in the first cryptocurrency up to 5% of € 140 billion reserves, recognizing the growing global interest in the asset: “My goal is to diversify the portfolio, so if the bitcoin is good [для цього]then let’s take it. ” Mikhl stated that he had “a completely different philosophy” […]”, – WRITE: Businessua.com.ua
The Board of Directors of the Czech National Bank (CNB) will consider diversify the state reserve by investing in bitcoin. The chapter made the appropriate initiative Regulator Alesh Michl, writes Financial Times.
It proposes to place in the first cryptocurrency up to 5% of € 140 billion reserves, recognizing the growing global interest in the asset:
“My goal is to diversify the portfolio, so if bitcoin is good [для цього]then let’s take it. ”
Mikhl stated that he had a “different philosophy” about digital gold than his conservative colleagues.
“If you compare my opinion with other bankers, I am a jungle researcher or pioneer. I used to manage the investment fund, so I’m a typical investment banker. I would say, I like profitability, ”CNB said.
At the same time, he did not rule out that cryptocurrency investments may be futile.
“A wide range of results is possible depending on whether bitcoin will have zero or absolutely fantastic cost. But in our history there were already Enron and Wirecard, so we have some experience in bad investment. So I’m ready [до можливого краху біткоїна]”, – said Mikhl.
According to the regulator’s calculations, if CNB has held 5% of currency reserves in bitcoin in the last decade, its annual profitability would increase by 3.5 percentage points with a twofold increase in volatility.
Mick said that any major centing investment in bitcoin-ETFs can in themselves affect the price of a coin.
“5% [наших активів] “It’s big money, even for the bitcoin market,” he said.
The Czech National Bank’s foreign exchange reserves of € 140 billion are equivalent to approximately 45% of the country’s GDP. 22% of CNB portfolio is shares, and Michael wants to be in US promotions after about three years.
We will remind, in February 2024 specialists ECB It has been stated that the fair value of bitcoin is still zero, despite the approval of spot bitcoin-ETFs in the US and the price rally that preceded it.
For its part, German excellence, Christian Lindner, believes that European Central Bank should encourage the inclusion of crypto assets in their reserves by US example.
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