"Czech National Bank Governor to Propose Bill Allocating 5% of Foreign Reserves to Bitcoin"

Uk Jin

Summary

The Governor of the Czech National Bank plans to propose a bill to invest up to 5% of foreign reserves in Bitcoin.
If this bill is approved, more than $7.3 billion could flow into the Bitcoin market.
This is considered part of an asset diversification strategy.

A national Bitcoin (BTC) reserve bill is expected to emerge in the Eastern European country of the Czech Republic.

According to Cointelegraph on the 29th, Ales Michl, the Governor of the Czech National Bank (CNB), announced plans to propose a strategy to invest up to 5% of the bank's reserves in Bitcoin as part of an asset diversification strategy.

Andrei Dragos, Head of Research at Bitwise, stated, "Considering CNB's total reserves exceed $146 billion, if the bill is approved, more than $7.3 billion could flow into Bitcoin."

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