Bitcoin. The Czech Republic is preparing a “breakthrough move”. “I like profits”

The head of the Czech Central Bank Aless Michl told “FT” that this Thursday would present the CNB management plan for diversification of foreign currency reserves for investment in Bitcoins of up to 5 percent. all reserves, which currently amount to about EUR 140 billion.

Recognizing the “extreme variability” and the relatively short history of Bitcoin, Michl drew attention to the wider interest of investors in this cryptocurrency since he was more seriously treated by great funds such as Blackrock. He also pointed to declarations Donald Trump regarding bitcoin.

President USA Last week, he signed a cryptocurrency regulation in which it was declared that government policy would protect and promote the possibilities of investing in digital assets. Pursuant to the regulation, a working group for cryptocurrencies was also established, which is to develop regulatory frames for this sector.

Earlier, in December, the head of the Federal Reserve Jerome Powell said that the American Central Bank has no bitcoin, because he is not on the asset list for the purchase of which Congress allowed. “We don't expect a change in the Fed,” said Powell.

Central banks traditionally place their reserves in conservative assets such as American Treasury bonds and other high -rating bonds. Some have actions, but almost none (except the El Salvador – ed.) cryptocurrencies – notes “FT”.

Aless Michl said in an interview with the journal that he has a “completely different philosophy” about Bitcoins than his counterparts in other countries.

– Of course, if you compare my position with other heads of central banks, I enter the jungle. I am a pioneer, said the head of the Czech Central Bank. – I ran an investment fund, so I would say that I am a typical investment banker, I like profits – he added.

“FT” points out that among central bankers who have warned against the risk of investing in cryptocurrencies, is the President of the Bundesbank Joachim Nagel, who this month compared bitcoins to “digital tulips”, referring to a 17th-century speculative bubble.

Officials of the European Central Bank wrote last year that “the fair value of Bitcoin is still zero”, adding that “Bitcoin is not suitable as a means of payment or an investment”, while the former EBC clerk Benoît Cśuré had previously described Bitcoin as “the financial crisis is marked by the financial crisis “.

Michl in an interview with the British daily admitted that the investment may be worthless.

– You can have a wide range of results. Bitcoin It can be zero or absolutely fantastic. But in our history we also had shares of companies such as Enron or the Wirecard payment company (both collapsed in the atmosphere of a scandal), so we have some experience with bad investments, so I am ready (for various scenarios – ed.) – he said.

– My goal is to diversify the portfolio, so if Bitcoin is good (for this – ed.), Let's have it.

CNB is already standing out from central banks, because 22 percent of its portfolio are shares, and Michl wants in three years half of this portfolio to be in American actions, compared to the current level of 30 percent.

– We buy gradually and in small steps, because prices (American actions) are the highest in history – he said in an interview with the Financial Times.