Czech National bank bought Bitcoin for the first time

[minairia3]

I believe other banks have had secretly bought their own stash of bitcoin in the previous years. Of course, they won't admit it at first because it is like against their financial system in some way. But whoever or whichever will join this market is up to them. As everyone is free to join in this market, without judgment or anything, it is now up to you how you will strategize or take advantage this market.

Stop coming up with ridiculous theories like governments, central banks have been secretly buying bitcoin for a long time and they are not announcing it. That cannot happen at the corporate, corporate level, let alone the national level.

Because fundamentally, corporations must publicly report their financial statements to shareholders, investors, and regulatory agencies like the SEC. Meanwhile, for the government and the central bank, there needs to be bipartisan consensus. They cannot quietly use taxes and national budgets to make indiscriminate purchases without the approval of Congress.

Even agreeing to extend spending to reopen the government took more than 43 days. Or passing a "Bitcoin Act" also takes a long time and no country has even achieved that yet. How can they buy bitcoins secretly? Who has the authority to do this when power is divided under the separation of powers rather than concentrated in one person or one body?

[Cryptomultiplier]

I love the new development by the Czech government, it shows they are ready to embrace not just Bitcoin, but crypto currency as perhaps a legal tender or just held in a reserve as investment and wealth strategy and I see more countries rising to the challenge to adopt BTC and have a reserve bank for it for future uses.

Although I am concerned that this move by the Czech government is more or less a small scale test and not a strategic move to add it to their international reserves.
Their CBN has nothing to do with it and still sees Bitcoin as an immature asset.

This test is more to understand the workings and mechanics of cryptocurrency and not a sudden move in its reserve strategy as the U.S openly did.

[AVE5]

Prague the country’s capital is the home to the highest number of bitcoin accepting businesses in Europe  and I think this move by the country’s National bank will add up more adoption across the country.

It's always a good news for the bitcoin communities especially investors that whenever learns that an entity or institutions buys bitcoin in the very large qualities like this one. While such related news may give hope to short term investors that bitcoin price may rise again, it also encourages the people such as the Czech to adopt bitcoin.

We can place a bet on this very move of the Czech bank that in no rim, there's going to be an uprise on crypto adoption because, most citizens may have the interest of investing in bitcoin but due to their governments sanctions or refusal to invest on it, it discourages the people based on trust issues in regards that the market is unregulated and at the utmost peak of decentlization, the skeptics looses the interest to buy and invest on it. But with this that the bank has taken a realistic step to buy, so also the masses will follow suit.

[zeuner]

Nowadays a random entity buys 10 BTC, and all of a sudden, they're "all in for it."

I'd rather see 20 national banks buying 10 than one buying 200.

[Minor Miner]

This test is more to understand the workings and mechanics of cryptocurrency and not a sudden move in its reserve strategy as the U.S openly did.

Yes, CNB has also made a very clear statement that this is just a trial, they will continue to monitor and evaluate the results in the next 1 to 2 years. They have no specific intentions or plans for bitcoin and digital assets before the final assessment of the experiment.

But I would like to add that the United States does not have any bitcoin reserves and has no intention or plan to add bitcoin to its national reserves. The US is not the leader in the idea of ​​strategic bitcoin reserves, we should stop mentioning them and treat them as a symbol. The strategic Bitcoin reserve signed by Trump is just an executive order, not an "Act", a national strategic reserve.

[Altryist]

I love the new development by the Czech government, it shows they are ready to embrace not just Bitcoin, but crypto currency as perhaps a legal tender or just held in a reserve as investment and wealth strategy and I see more countries rising to the challenge to adopt BTC and have a reserve bank for it for future uses.

Although I am concerned that this move by the Czech government is more or less a small scale test and not a strategic move to add it to their international reserves.
Their CBN has nothing to do with it and still sees Bitcoin as an immature asset.

This test is more to understand the workings and mechanics of cryptocurrency and not a sudden move in its reserve strategy as the U.S openly did.

Today I came across an article about this purchase, which described the Czech National Bank's position, they made this purchase as a test, to understand how things work, to understand all about storage, and to understand all the aspects that might arise when creating a Bitcoin reserve. So at this stage, they're definitely not talking about adoption, it's just a test purchase. So as long as there are no other purchases or official statements, I wouldn't be so optimistic about the Czech National Bank's plans to create its own Bitcoin reserve.

[fuguebtc]

Today I came across an article about this purchase, which described the Czech National Bank's position, they made this purchase as a test, to understand how things work, to understand all about storage, and to understand all the aspects that might arise when creating a Bitcoin reserve. So at this stage, they're definitely not talking about adoption, it's just a test purchase. So as long as there are no other purchases or official statements, I wouldn't be so optimistic about the Czech National Bank's plans to create its own Bitcoin reserve.

Indeed, if people actually read the news in detail and know exactly what the Czech National Bank is doing. Then we will see that this news is not something too exciting or optimistic because it is all just an experiment, and they do not have any concrete plans yet. While what we expect and want is real bitcoin reserves, not experiments, rumors..

To me, this news is just like the news about other countries' bitcoin reserves that we have heard before, nothing special. Because after all, there is no strategic bitcoin reserve yet.

[sleepfirefly]

Nowadays a random entity buys 10 BTC, and all of a sudden, they're "all in for it."

for me it depends on how big the entity is
10 btc is almost a million dollars if im not wrong
might not sound much for others, but for a small entity
a private company or a third world country, that’s a lot of money
so if they put in that much money even despite being a small corporation
then it must mean they take bitcoin seriously and see potential in it

[m2017]

Saw this news just now and I felt like sharing it here..Czech National bank have bought $1million worth of bitcoin and crypto seems like European countries have started to fully embrace  bitcoin and I think this is a call for more adoption maybe..

Prague the country’s capital is the home to the highest number of bitcoin accepting businesses in Europe  and I think this move by the country’s National bank will add up more adoption across the country.

Firstly, this is only a test purchase of bitcoin by the czech government, which they've actually mentioned (I saw it in the news somewhere) and currently have no plans for further bitcoin purchases.

Secondly, $1 million within a country is a very small amount.

I wouldn't call this a "manifestation" of adoption, but rather a trial purchase, but in any case, it's an indicator of interest on the part of countries. Also, it's not a "full embrace", it's only a "very small step" in this direction. It seems to me that even this insignificant step demonstrates a positive trend on the part of countries, as it's not a "denial" of BTC's existence, but rather an attempt to "understand" this asset and whether it can be used to their advantage.

[LogitechMouse]

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Saw this news just now and I felt like sharing it here..Czech National bank have bought $1million worth of bitcoin and crypto seems like European countries have started to fully embrace  bitcoin and I think this is a call for more adoption maybe..

Prague the country’s capital is the home to the highest number of bitcoin accepting businesses in Europe  and I think this move by the country’s National bank will add up more adoption across the country.

This adds up to the global adoption but TBH, there's nothing surprising with this kind of news anymore. I mean we've seen large institutions buying Bitcoin throughout the years. We've seen El Salvador and Bhutan government buying some Bitcoin as well. For me, this isn't a big news anymore but nevertheless, this is still a good news... or is it?

Anyway, a million dollars can only buy you at least 10 BTC with it's current price, and the question is that, "Will they continue to buy Bitcoin or this will be the first and last time that they'll be doing it?" One thing's for sure though, global adoption is increasing every single year, and many large institutions are coming as well to accumulate some Bitcoins that's why I believe that as more large companies or banks are buying, the higher the chances are that we might see the 4-year cycle not the same as it is back in 2021, 2017 and 2013 cycle.