JUST IN: Head of Czech's central bank wants to buy billions in Bitcoin

[OmegaStarScream]

So this article just came out. Apparently, the head of the Czech central bank is planning to suggest a plan to the board to buy billions of euros in bitcoin...
More can be found here: https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f
EDIT: here's the archived version: https://x.com/saifedean/status/1884491145167704135

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

[fikrett]

The article itself is blocked due to the need to pay up for the info, but - I do think it won't be the case that the reserves would be implemented faster anywhere else other than in the US.
That would be a hit to the prestige they are looking for, and they would want to be the leaders in everything they do.

[K_vin]

So this article just came out. Apparently, the head of the Czech central bank is planning to suggest a plan to the board to buy billions of euros in bitcoin...
More can be found here: https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Well with fingers crossed we watch and prepare to experience one of the craziest rides of all time with btc, I don't think though that U.S will wait that long before coming to the fore with btc, I think they are trying to take their time to prepare,plan and maybe gradually adjust before any major moves considering the hug impact the move will cause on them and the entire crypto market

[OmegaStarScream]

The article itself is blocked due to the need to pay up for the info, but - I do think it won't be the case that the reserves would be implemented faster anywhere else other than in the US.

I have edited the original post and included archive link posted by "The bitcoin standard" author.

As for your second statement, then although the administration looks pro crypto, I'm not sure they have the proper advisors. There is a lot of talk about "digital assets" but almost nothing about "Bitcoin". Now yes, bitcoin is a digital asset, but it would be a loss if the U.S end up buying Bitcoin, XRP, and Solana for instance, instead of buying everything in Bitcoin cause what's the point of buying something that the other countries do not want?

[betswift]

Well with fingers crossed we watch and prepare to experience one of the craziest rides of all time with btc, I don't think though that U.S will wait that long before coming to the fore with btc, I think they are trying to take their time to prepare,plan and maybe gradually adjust before any major moves considering the hug impact the move will cause on them and the entire crypto market

US are the closest ones to achieve said reserves for themselves, and I would be surprised if it would go otherwise.
And surely - lots of time ahead of us to see them acting up on their words.

[EluguHcman]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

If a scale of economy system as El Salvador could adopt the strategic reserve on Bitcoin as the first country adoption, I think any other countries could as well follow the lines overtaking the US.

I think it is the global influence of the US especially now that Donald Trump has assumed office is the major reason of having the US in anticipation of economy reserve.
Why the US proposal has long been so speculated this much is because there are lot of countries incorporating with them and the US has much had economy leadership among them.

Noting that we talk about a decentralization economy market at mentioned of Bitcoin, it is self decisions towards who want to invest on Bitcoin and holds it value on Bitcoin reserve.

The US can actually be left behind in this adoption rate but though we know they are being economically strategic in their decision before make this happen and when they do, it is sure to attribute a high velocity on influencing the market.

[fikrett]

The article itself is blocked due to the need to pay up for the info, but - I do think it won't be the case that the reserves would be implemented faster anywhere else other than in the US.

I have edited the original post and included archive link posted by "The bitcoin standard" author.

As for your second statement, then although the administration looks pro crypto, I'm not sure they have the proper advisors. There is a lot of talk about "digital assets" but almost nothing about "Bitcoin". Now yes, bitcoin is a digital asset, but it would be a loss if the U.S end up buying Bitcoin, XRP, and Solana for instance, instead of buying everything in Bitcoin cause what's the point of buying something that the other countries do not want?

Thank you, much appreciated.

It's all talks for now, but they started talking first.
And remember - they pushing for more "US-made" stuff than for BTC itself, that's totally true. That's why they also talking to Ripple regarding the reserves too. But I do hope that the main part of them would be BTC.

[Sanitough]

Their total reserve is around €140.9 billion, and in their proposal, they plan to diversify 5% of it, so that’s about €7 billion. It’s not much in the grand scheme of things, but it’s still a massive amount that could significantly boost demand. And this is just one bank (or country). Imagine if more follow the trend.

However, despite that great news, none of them have actually put this into action yet, as most are still in the planning stage except for El Salvador.

So, for now, we just have to wait and see how this develops and hope for a positive outcome.

[betswift]

Their total reserve is around €140.9 billion, and in their proposal, they plan to diversify 5% of it, so that’s about €7 billion. It’s not much in the grand scheme of things, but it’s still a massive amount that could significantly boost demand. And this is just one bank (or country). Imagine if more follow the trend.

However, despite that great news, none of them have actually put this into action yet, as most are still in the planning stage except for El Salvador.

So, for now, we just have to wait and see how this develops and hope for a positive outcome.

I've seen banks in Italy saying the same things too, though, I agree with you on the matter that this trend is bullish, yet lots of time is needed to see actions shine through promises.
It's not a thingie that they would do on a whim of their fingers, unfortunately.

[MAAManda]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Maybe, after strong support for crypto in general from Donald Trump, there are now more and more leaders who are confident about crypto. It's also possible that these leaders want to steal a start from America, however, decision making can't be done instantly, I think we'll see the adoption of a strategic reserve for Bitcoin (BTC) first in American states, after that there will be an explosion of news about Bitcoin (BTC) strategic reserves in other countries.

[Faisal2202]

So this article just came out. Apparently, the head of the Czech central bank is planning to suggest a plan to the board to buy billions of euros in bitcoin...
More can be found here: https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f
EDIT: here's the archived version: https://x.com/saifedean/status/1884491145167704135

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Billions of Euros in BTC that's a huge amount, and this can really pump the price if they would really invest billions. As I don't think this proposal is going to be accepted by government.

We can see a strategic reserve before USA but I don't thik that's going to happen because out of all the countries in the world USA is most active in crypto due to its president (Trump) and I am 100% sure that besides the countries added BTC to their reserves, any new country except USA won't add Btc to their reserve unless USA do it first.

[Sanitough]

Their total reserve is around €140.9 billion, and in their proposal, they plan to diversify 5% of it, so that’s about €7 billion. It’s not much in the grand scheme of things, but it’s still a massive amount that could significantly boost demand. And this is just one bank (or country). Imagine if more follow the trend.

However, despite that great news, none of them have actually put this into action yet, as most are still in the planning stage except for El Salvador.

So, for now, we just have to wait and see how this develops and hope for a positive outcome.

I've seen banks in Italy saying the same things too, though, I agree with you on the matter that this trend is bullish, yet lots of time is needed to see actions shine through promises.
It's not a thingie that they would do on a whim of their fingers, unfortunately.

You are referring about this news?

Italy's Intesa 'tests' bitcoin with 1 mln euro investment

Well, that’s a bit different from the news in the OP since it’s referring to a central bank, the agency that regulates all banks and financial institutions. But the news you’re talking about is just about the biggest bank in Italy testing the waters with a $1 million Bitcoin purchase. Not exactly a game-changer compared to the billions of dollars that the Czech central bank might buy in the future.

[Faisal2202]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Billions of Euros in BTC that's a huge amount, and this can really pump the price if they would really invest billions. As I don't think this proposal is going to be accepted by government.

We can see a strategic reserve before USA but I don't thik that's going to happen because out of all the countries in the world USA is most active in crypto due to its president (Trump) and I am 100% sure that besides the countries added BTC to their reserves, any new country except USA won't add Btc to their reserve unless USA do it first.

[ultrloa]

Well with fingers crossed we watch and prepare to experience one of the craziest rides of all time with btc, I don't think though that U.S will wait that long before coming to the fore with btc, I think they are trying to take their time to prepare,plan and maybe gradually adjust before any major moves considering the hug impact the move will cause on them and the entire crypto market

US are the closest ones to achieve said reserves for themselves, and I would be surprised if it would go otherwise.
And surely - lots of time ahead of us to see them acting up on their words.

Now they are competing on which of these countries could invest a lot from Bitcoin and I guess they are just waiting for US to do the first action and Czech also other  countries will follow.
 
If this situation will happen and lots of countries will create their own reserves I guess we are heading into Bitcoin standard system, https://capitalism.columbia.edu/content/bitcoin-standard-decentralized-alternative-central-banking  but let see if this will really happen since who knows right?

Future became more and more exciting especially when countries announce that they are ready to buy Bitcoin.

[FortuneFollower]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Billions of Euros in BTC that's a huge amount, and this can really pump the price if they would really invest billions. As I don't think this proposal is going to be accepted by government.

We can see a strategic reserve before USA but I don't thik that's going to happen because out of all the countries in the world USA is most active in crypto due to its president (Trump) and I am 100% sure that besides the countries added BTC to their reserves, any new country except USA won't add Btc to their reserve unless USA do it first.

The US will probably be the first, and others will follow.
Nothing wrong with that, as the US would be the bulwark in that regard.

[Lucius]

~snip~
Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

It seems that everyone is talking a lot, but no one is doing anything concrete and in a way it seems that everyone is waiting to see what the US will do. On the one hand, I understand that no one wants to be the first, but then again, if the US announces that it is buying BTC for its strategic reserves, everyone else who decides to do the same after them will pay for their BTC at a much higher price.

As for the member countries of the European Union, I have already written on several occasions that there are those members who are also part of the Eurozone (they use the common currency Euro) and are under the authority of the ECB (European Central Bank) and should probably receive approval from the ECB for such an investment - while on the other hand, the Czech Republic is not in the Eurozone, which means that it has some degree of monetary sovereignty in matters like this.

[_act_]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

United States is not the first country that will have bitcoin strategic reserve. The first country that have bitcoin strategic reserve is El Salvador. If United States is slow about it, there are many countries from five continents that are moving towards having bitcoin strategic reserve. If United States is not fast about it, one or more of these countries will have bitcoin strategic reserve first.

[Die_empty]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

We cannot predict the country that will be brave enough to take the first step before the US. But from observation, it seems most of them are waiting for the Donald Trump government to make the first move. I assume that the scramble for Bitcoin will begin immediately US start stockpiling.

The Czech National Bank (CNB) Czech Republic Governor Aleš Michl is proposing 5% of the country's reserve which is about $7.3 billion ( the country's foreign reserve as at December 2023 is $146 billion as of ) for Bitcoin purchases which is a substantial amount. Who knows the next country that will show interest but we have to keep waiting for the first to walk the talk.

[betswift]

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

United States is not the first country that will have bitcoin strategic reserve. The first country that have bitcoin strategic reserve is El Salvador. If United States is slow about it, there are many countries from five continents that are moving towards having bitcoin strategic reserve. If United States is not fast about it, one or more of these countries will have bitcoin strategic reserve first.

US will probably have the biggest reserves.
That's why most of the eyes are on its reserves.

[AprilioMP]

So this article just came out. Apparently, the head of the Czech central bank is planning to suggest a plan to the board to buy billions of euros in bitcoin...
More can be found here: https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f
EDIT: here's the archived version: https://x.com/saifedean/status/1884491145167704135

Thoughts on this? Do you think we could see a bitcoin strategic reserve anywhere else before seeing in one of the U.S states?

Can. We can see in some countries about Bitcoin reserves that will be carried out because Bitcoin's strategic reserves can really save their economy when disasters-I call it an economic disaster that occurs someday.
The simple sentence is an effort to save values ​​and that is important.
We've seen at El Salvador. From now on the US even though previously I knew it also had bitcoin and in the future maybe Czech or other countries.