Reportedly the Czech central bank governor is planning to represent his plan to invest 140 billion euros in Bitcoin ($BTC).
Czech National Bank (CNB) is the central bank of the Czech Republic, a landlocked country located in Central Europe. Three weeks ago, we reported that the Czech central bank governor proposed the idea of investing in Bitcoin to diversify the bank’s investment portfolio.
At the time, information was not very clear, but in the latest development, a report by FT confirmed that central bank governor Aleš Michl will soon propose his plan to allocate 5% of the bank’s reserves, which currently stand at 140 billion euros, in Bitcoin.
If his proposal successfully got approval then surely it would mark a significant step in Bitcoin adoption & also it would make CNB the first major central bank to officially hold Bitcoin.
However, high volatility in the trade price of Bitcoin is a very big issue, but the governor seems tension-free because of the high Institutional demand for Bitcoin, especially in the presence of Bitcoin spot ETF products issued by top fund managers. Also, he is confident with the ProCrypto leadership of US President Donald Trump. Overall, he thinks that the situation is now much better to get on the Bitcoin vehicle.
Countries holding the highest amount of Bitcoin
Currently, the US is at the top in terms of holding Bitcoin. USA holding 198,109 BTC, China 200k BTC, UK 61.5k BTC, Ukraine 46,351 BTC, Bhutan 11,688 BTC, El Salvador 6k BTC.
It is worth it to note that among these countries, only El Salvador & Bhutan are holding Bitcoin as a part of Bitcoin adoption. The rest of the countries holding Bitcoin actually seized from the bad actors.
Reportedly today, China, a country that imposed a blanket ban on cryptocurrencies in 2021, sold the majority of its Bitcoin holdings.
Bitcoin price action
The current trade price of Bitcoin is $102,662 & this price level is 2.54% down over the last 7 days of the trading period.
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