PANews reported on January 30 that according to Bloomberg, the Czech National Bank (CNB) will vote on a $7 billion Bitcoin reserve proposal today, but Czech Finance Minister Zbynek Stanjura warned of Bitcoin's high volatility and believed that it did not meet the central bank's stability requirements.
CNB Governor Aleš Michl plans to propose investing up to 5% of reserves in Bitcoin, noting that market interest in Bitcoin has continued to grow since the launch of BTC spot ETFs by institutions such as BlackRock. However, he also acknowledged the high volatility of BTC and said that its potential role in central bank reserves still needs to be further evaluated.
If the proposal is approved, CNB may hold at least $7 billion in Bitcoin, part of its total reserves of $146 billion. The proposal has received some support in the local Czech industry. Trezor analyst Lucien Bourdon said that the Czech Republic has long been a frontier country for Bitcoin innovation, including the world's first mining pool, hardware wallet and large-scale Bitcoin conference.
At the same time, US lawmakers are promoting Bitcoin reserve plans at multiple state and federal levels, with Senator Cynthia Lummis calling on the United States to establish strategic BTC reserves before the Czech Republic. In addition, European Central Bank President Lagarde reiterated today that Bitcoin will not enter the EU's official reserves.