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CNB: Governor Michl Reiterates Bitcoin Is Under Consideration As Reserve Asset

CNB

CNB Governor Alex Michl writes on X that the central bank's "goal is price stability. When we took office in July 2022, inflatoin was 17.5%. We brought it down to the target."

  • "We are also diversifying reserves (...) An asset under consideration is Bitcoin. It currently has zero correlation to bonds and is an interesting asset for a large portfolio. Worth considering. Right now, it's only at the stage of analysis and discussion. The Bank Board decides, and no decision is imminent. Thoughtful analysis is needed."
  • "Bitcoin has significant volatility, which makes it harder to take advantage of its current low correlation with other assets. That's why I will ask our team on Thursday to further assess Bitcoin's potential role in our reserves. Nothing more, nothing less."
  • The way Michl phrases it seems to downplay a potential interpretation of the earlier FT article that a decision on the inclusion of Bitcoin on the list of CNB reserve assets was imminent.
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CNB Governor Alex Michl writes on X that the central bank's "goal is price stability. When we took office in July 2022, inflatoin was 17.5%. We brought it down to the target."

  • "We are also diversifying reserves (...) An asset under consideration is Bitcoin. It currently has zero correlation to bonds and is an interesting asset for a large portfolio. Worth considering. Right now, it's only at the stage of analysis and discussion. The Bank Board decides, and no decision is imminent. Thoughtful analysis is needed."
  • "Bitcoin has significant volatility, which makes it harder to take advantage of its current low correlation with other assets. That's why I will ask our team on Thursday to further assess Bitcoin's potential role in our reserves. Nothing more, nothing less."
  • The way Michl phrases it seems to downplay a potential interpretation of the earlier FT article that a decision on the inclusion of Bitcoin on the list of CNB reserve assets was imminent.