Today, the European Central Bank (ECB) reduced interest rates as predicted, raising concerns about further reductions. ECB President, Christine Lagarde, assured that despite global trade worries, inflation in the Eurozone remains under control. Lagarde dismissed the possibility of Bitcoin (BTC) entering the reserves of EU central banks due to concerns about money laundering and illegal activities. However, the National Bank of Czechia (CNB) approved a plan to explore investing in Bitcoin and other assets. CNB is evaluating whether adding assets like Bitcoin to its reserves can be beneficial in terms of diversification and returns. If implemented, CNB would become the first central bank to add Bitcoin to its reserves. CNB’s head, Alzbeta Michal, is planning to introduce Bitcoin reserves, aiming to allocate at least 5% of CNB’s €140 billion reserves to this digital currency. Despite this, the Czech Finance Minister expressed concerns about Bitcoin’s high volatility and its suitability for national reserves.
