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Bitcoin’s potential spot in the Czech central bank’s reserves is about as certain as my ability to resist a third glass of wine on a Tuesday. 🍷 A senior official, Jan Kubicek, has thrown some serious shade at the idea, citing legal headaches and Bitcoin’s infamous mood swings. Honestly, it’s like trying to date a Gemini—unpredictable and exhausting.
The debate over whether Bitcoin should join the Czech National Bank’s reserves is still dragging on, with Kubicek leading the charge of skepticism. He’s all, “Bitcoin? Meh.” Meanwhile, the bank is out here exploring new asset classes like it’s shopping for a new handbag. 👜 Earlier this year, the FT reported on this little adventure, and now Kubicek is here to rain on the crypto parade.
“We will assess different classes of assets. Bitcoin is just one of them. My position is rather sceptical about Bitcoin.”
Jan Kubicek
Kubicek’s main beef? The legal status of Bitcoin is about as clear as mud, and owning it directly would mean creating a whole new set of accounting and auditing processes. Because, you know, who doesn’t love extra paperwork? 📑
“We cannot be certain that Bitcoin’s volatility in the coming years will mirror the patterns observed over the past decade because I suspect that, if more institutional investors accept Bitcoin as an investment asset, it will start to behave differently from what we have seen so far.”
Jan Kubicek
According to Kubicek, the CNB’s study on expanding asset classes might be wrapped up by October. So, mark your calendars for more crypto drama! 🗓️ He also tossed in the idea of investing in international corporate bonds, tech stocks, and property funds. Because, apparently, Bitcoin isn’t the only shiny object in the room. 💎
This whole saga started when CNB Governor Ales Michl floated the idea of adding Bitcoin to the bank’s reserves back in January. The crypto community was all, “Yasss!” while policymakers were like, “Hard pass.” European Central Bank President Christine Lagarde even chimed in, saying reserves need to be “liquid, secure, and safe.” Translation: Bitcoin, you’re not invited to this party. 🎉
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2025-03-19 15:52