Czech Central Bank Becomes First Central Bank to Buy Bitcoin

The Czech National Bank (CNB) has officially launched a $1 million test portfolio of digital assets, which predominantly includes bitcoin, a USD stablecoin, and a tokenized deposit. This pilot initiative, approved by the bank's board on October 30, aims to explore processes related to the acquisition, holding, and management of blockchain-based assets. The CNB plans to share insights and experiences from this pilot over the next two to three years, marking a significant step in integrating bitcoin onto a central bank's balance sheet. Governor Aleš Michl had earlier proposed this idea to diversify the bank's reserves and evaluate the implications of decentralized digital currencies. Unlike other central banks, the CNB operates with a degree of independence within the European Union since it has not yet adopted the euro.

Source 🔗