Czech National Bank is set to vote on a $7 billion Bitcoin reserve proposal, but Finance Minister Stanjura warns against BTC’s volatility.
As the Czech National Bank (CNB) is set to address a proposal on setting up a $7 billion Bitcoin reserve, the Czech Finance Minister has expressed concerns about the potential move.
Czech Finance Minister Zbynek Stanjura has warned against CNB’s proposal to consider investing up to 5% of its reserves in Bitcoin (BTC ), Bloomberg reported on Jan. 30.
The official specifically cautioned against Bitcoin’s highly volatile nature, which does not align with the stability promised by central banks.
Read more,# Czech National Bank’s Bitcoin Proposal: A Reserve of Laughs or a Recipe for Disaster?
## Key Points:
– The Czech National Bank is gearing up to vote on a $7 billion Bitcoin reserve proposal—because who doesn’t want to play musical chairs with crypto?
– Finance Minister Zbynek Stanjura has thrown cold water on the hot BTC romance, cautioning that Bitcoin’s volatility is like a rollercoaster without seatbelts.
– Authorities are reminded that central banks are supposed to be the calm amidst the financial storms, not the ones riding the waves of crypto chaos.
### Hot Take:
Investing in Bitcoin for a central bank is like trying to use a jetpack for your morning commute; thrilling but oh-so-volatile! Maybe stick to the ol’ reliable gold bars and interest-bearing assets first. Let’s see how this one plays out. #CZK #Bitcoin #CryptoCrazy
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JustInvestNews, Bitcoin, Finance Minister, Czech National BankOriginal article: https://cointelegraph.com/news/czech-national-bank-bitcoin-reserve-debate?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
