Czech Central Bank’s Billion-Euro BTC Purchase Plan: A Twain-Tinged Look

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Governor Aleš Michl of the Czech National Bank has laid out ambitious plans to jump headfirst into the jungle that is Bitcoin by purchasing billions of Euros worth of BTC. I reckon the fella’s got a hankerin’ for some fresh adventure after gettin’ wind of the Trump administration’s talk about that ol’ strategic BTC reserve.

Czech Central Bank thinksin’ ’bout allocatin’ 5% of their reserves to Bitcoin?

Now that’s a bold move, – I reckon Old Man Twain mighta said somethin’ ’bout hopin’ the grass is greener on the other side of the cryptocurrency lake. Anyway, Governor Michl’s presented his board with a plan that suggests the Czech National Bank should sock away at least 5 percent of their total €140bn of reserves into them there Bitcoins. If that doesn’t get ya pooped, I don’t know what will!

Cryptocurrency buffs will tell ya Trump’s brainchild of de-regulation and his recent decree to build a digital asset stockpile has inspired some adventurous central banks to follow in his wake. Givin’ the peepul’s interest in Bitcoin a boost.

“For the diversification of our assets, Bitcoin seems good. Those [Trump] guys can now kind of create some bubble for Bitcoin, but I think the trend would be an increase without those guys as well, because it’s an alternative [investment] for more people”

Now, our Czech governor acknowledges Bitcoin’s wobbly nature and its short track record, yet he notes the mass interest evoked by giants like BlackRock and their regulated Bitcoin ETFs. Smart fella, that one.

Takin’ a contrarian stance and havin’ fun with the US Fed

Back in the day when they still listened to the likes of Twain, December saw US Fed Chairman Jerome Powell go on record sayin’ that the central bank wasn’t buildin’ itself a cottage in Bitcoin land just yet. “We are not lookin’ for a law change at the Fed,” Powell is on record as sayin’. Tsk, tsk.

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2025-01-29 11:33