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Czech Republic may adopt Bitcoin as exchange reserve
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The governor of Czech National Bank (Czech Republic)Aleš Michl, said he considered the possibility of incorporating Bitcoin as an exchange reserve in an interview with CNN to control inflation.
With the parliamentary elections Approaching 2025, the decisions of the new political leaders could influence the country’s economic guidelines. The idea of investing in Bitcoin, however, still does not have consensus among bank members.
In an interview with CNN, the governor said he has looking for ways to control inflation in the country. With inflation projected at around 2.5% for next year, the governor left open the possibility of investing in Bitcoin.
With a population of 10 million inhabitants, the country suffered a strong inflationary crisis recently. According to data from the International Monetary Fund (IMF), in 2022, the Inflation in the country reached the 15% mark. This is the largest in the entire historical series.
Bitcoin as a foreign exchange reserve
Since taking office, the economist has implemented a gold acquisition strategy. The objective is to guarantee the country’s financial security and stability. In addition to gold, the country’s foreign exchange reserves are stocks, bonds and cash deposits.
When asked about the possibility of include Bitcoin in the list of assets for foreign exchange reserves, acknowledged that cryptocurrency was considered and suggested by himself.
It turns out that, as he implied, his idea of buy Bitcoin as a foreign exchange reserve it did not find unanimous acceptance. However, Aleš Michl left open the possibility of making Bitcoin purchases in the future, when the Bank manages to control inflation and guarantee economic stability.
It is important to highlight that the council of central bank management of the country has seven members. This includes the Governor, two Vice-Governors and four other members, all appointed and dismissed by the President of the Republic.
It is also worth remembering that parliamentary elections in the Czech Republic are scheduled to take place until October 2025, when all 200 members of the Chamber of Deputies, the lower house of Parliament, will be elected.
Despite not having direct influence on the appointment of advisors to the Czech National Bank, the elected candidates nominate the country’s prime minister and influence the appointment and election of the next president, which is scheduled to take place in 2027.
Czech Republic may adopt Bitcoin as exchange reserve
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Czech Republic may adopt Bitcoin as exchange reserve
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Czech Republic may adopt Bitcoin as exchange reserve
