The Czech Central Bank (CNB) has become the first central bank in the world to officially add Bitcoin (BTC) to its balance sheet. In a statement on Thursday, the CNB announced that it has set up a $1 million test portfolio that includes Bitcoin, a US stablecoin and a tokenized bank deposit.
First central bank with Bitcoin on its balance sheet
The move is a milestone for Bitcoin. Never before has the cryptocurrency been included in the balance sheet of a national central bank. The Czech bank says the trial aims to gain experience with blockchain-based assets. According to the CNB, these technologies could ultimately fundamentally change the way payment and financial systems work.
The investment was approved by the central bank’s board on October 30. The bank emphasizes that this is a test and that the amount will not be actively increased. The purchase also falls outside the country’s existing international reserves.
Bitcoin as a diversification tool
CNB President Aleš Michl proposed the idea for the test fund in January this year. At the time, the proposal was derided by ECB President Christine Lagarde. But because the Czech Republic does not use the euro, the Czech central bank retains a certain independence within the European Union.
“I came up with the idea of creating a test portfolio in January 2025,” Michl said in the announcement. “The goal was to test Bitcoin from a central bank perspective, and explore whether it can play a role in diversifying our reserves.”
Source: https://newsbit.nl/tsjechische-centrale-bank-koopt-voor-1-miljoen-aan-bitcoin-eerste-ter-wereld/
