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

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Quote from: Dr.Bitcoin_Strange on January 31, 2025, 05:05:41 AM

This is an idea that was first initiated by the US government, although they have not taken the bold step to fulfill that idea and despite that other countries or companies would also want to tap into that idea, I believe they are all waiting to see what will happen next, if actually the US will want adopt Bitcoin as their reserve. So, in my opinion, I doubt if any company or state will adopt Bitcoin for their reserve before any of the US state will do so.

Everybody waits for the results of said decisions - once they are going to see positive feedback and conclusions, it's a free real estate for everyone to try to do the same.

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This is an idea that was first initiated by the US government, although they have not taken the bold step to fulfill that idea and despite that other countries or companies would also want to tap into that idea, I believe they are all waiting to see what will happen next, if actually the US will want adopt Bitcoin as their reserve. So, in my opinion, I doubt if any company or state will adopt Bitcoin for their reserve before any of the US state will do so.

348Judah

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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...

The more we are hearing news like this the more it keeps getting better for us all in the bitcoin network, because with time, everything will be in balance and more industries and governments will be accepting the use of bitcoin for almost everything they do or needed, just as we aspire to seeing more countries adopting it as a legal tender, same is also coming to be in US soon, things are now getting better with regulations over the use of bitcoin as many are now taking advantage of investment because of the bullrun experience they have all witnessed and couldn't allow the next bullrun season to pass them by without investing.

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Quote from: Fiatless on January 30, 2025, 01:39:38 PM

Quote from: Btcalysis on January 30, 2025, 11:24:55 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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

I read that Czech Finance Minister, Stanjura warned against bitcoin volatility ahead of the central bank vote on Jan. 30. He did not know how bitcoin is an asset. But according to what I am reading online I read that Czech national bank has approved the proposal to access investing in Bitcoin.

Not everyone in the government of Czech Republic would support the idea of BSR. Some of them might have little knowledge of how the asset works thereby opposing the move. What was approved today was a proposal to consider investing reserves in other assets not just Bitcoin.

It is not just the country's Finance Minister Zbynek Stanjura who is opposing Bitcoin as a reserve, European Central Bank (ECB) President, Christine Lagarde is also among. She said that she hopes that Bitcoin will not be used as a reserve by any European country. The decision of the Czech National Bank will be reached after the study.

https://www.coindesk.com/policy/2025/01/30/czech-national-bank-approves-proposal-to-study-bitcoin-as-reserve-asset

I later read it on Cointelegraph and I have edited my post 2 minutes before you posted this.

https://cointelegraph.com/news/ecb-president-christine-lagarde-bitcoin-central-bank-reserves
https://cointelegraph.com/news/czech-national-bank-bitcoin-reserve-debate

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Quote from: Btcalysis on January 30, 2025, 11:24:55 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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

I read that Czech Finance Minister, Stanjura warned against bitcoin volatility ahead of the central bank vote on Jan. 30. He did not know how bitcoin is an asset. But according to what I am reading online I read that Czech national bank has approved the proposal to access investing in Bitcoin.

Not everyone in the government of Czech Republic would support the idea of BSR. Some of them might have little knowledge of how the asset works thereby opposing the move. What was approved today was a proposal to consider investing reserves in other assets not just Bitcoin.

It is not just the country's Finance Minister Zbynek Stanjura who is opposing Bitcoin as a reserve, European Central Bank (ECB) President, Christine Lagarde is also among. She said that she hopes that Bitcoin will not be used as a reserve by any European country. The decision of the Czech National Bank will be reached after the study.

https://www.coindesk.com/policy/2025/01/30/czech-national-bank-approves-proposal-to-study-bitcoin-as-reserve-asset

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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

I read that Czech Finance Minister, Stanjura warned against bitcoin volatility ahead of the central bank vote on Jan. 30. He did not know how bitcoin is an asset. But according to what I am reading online I read that Czech national bank has approved the proposal to access investing in bitcoin.

Edit: Czech central bank board voted to explore other asset classes for its reserves but did not specifically mention bitcoin.

CryptSafe

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Possibly, we could be anticipating another pump in Bitcoin price if this proposal scales through because from the looks, since the US is trying to implement Bitcoin as their national reserve, other countries know and have seen what is to come as the financial economy is changing direction. I believe this is why the Czech central bank is planning ahead of time so they could be strategically positioned just like EL-Salvador who bought it long ago and are currently on profit just for the decision made by their president. Maybe the Czech central bank could be the next before the US implements using Bitcoin as their national reserve and this would see many nations joining the league of countries to accept or take Bitcoin as their national reserve and also making it an option of payment for services in their countries.

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Quote from: fikrett on January 30, 2025, 05:31:55 AM

Quote from: Synchronice on January 30, 2025, 05:26:00 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

When does the US plan to create Bitcoin strategic reserves? If Trump wakes up tomorrow and decides to immediately create it, I don't know, in that case no coutnry will adopt it earlier than the US but I think if everything goes normally, then we will see other countries adopting it before the US. For example, Russia is the best candidate to create Bitcoin strategic reserves, Putin was even talking about that and because of sanctions they are in such a situation that it's their only safest method of creating a strategic reserves.

My bet is that Russia will create Bitcoin strategic reserves before the US or if this doesn't happen, then a small country like El Salvador will do it because it's a great free marketing for any small country.

Everybody has big and busty bureaucratic machines that wouldn't allow them to do it fast and steady.
But I don't see anyone doing it faster than the US. Especially if they want to take the lead in that regard and be the bulwark against CBDCs.

That's why it going to be a race between the superpowers now, I doubt though that Trump will allow Russia to be the first one to have Bitcoin as SBR. Trump has a lot of ego, trying to be the Alpha and obviously wanted to take the lead.

And with their huge machineries, they could really do it if they wanted to but probably they are still talking with the FEDs on how to make it before other countries beat them to their own game. With that, this is going to be the trend and this could be the final catalyst for this cycle bull run. It's just a question on how big it's going to be with this nation making Bitcoin their reserves.

fikrett

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Quote from: Synchronice on January 30, 2025, 05:26:00 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

When does the US plan to create Bitcoin strategic reserves? If Trump wakes up tomorrow and decides to immediately create it, I don't know, in that case no coutnry will adopt it earlier than the US but I think if everything goes normally, then we will see other countries adopting it before the US. For example, Russia is the best candidate to create Bitcoin strategic reserves, Putin was even talking about that and because of sanctions they are in such a situation that it's their only safest method of creating a strategic reserves.

My bet is that Russia will create Bitcoin strategic reserves before the US or if this doesn't happen, then a small country like El Salvador will do it because it's a great free marketing for any small country.

Everybody has big and busty bureaucratic machines that wouldn't allow them to do it fast and steady.
But I don't see anyone doing it faster than the US. Especially if they want to take the lead in that regard and be the bulwark against CBDCs.

Synchronice

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

When does the US plan to create Bitcoin strategic reserves? If Trump wakes up tomorrow and decides to immediately create it, I don't know, in that case no coutnry will adopt it earlier than the US but I think if everything goes normally, then we will see other countries adopting it before the US. For example, Russia is the best candidate to create Bitcoin strategic reserves, Putin was even talking about that and because of sanctions they are in such a situation that it's their only safest method of creating a strategic reserves.

My bet is that Russia will create Bitcoin strategic reserves before the US or if this doesn't happen, then a small country like El Salvador will do it because it's a great free marketing for any small country.

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Quote from: coolcoinz on January 29, 2025, 03:52:48 PM

I can only say one thing: God candle is around the corner!

This is how it's going to be in a few years. First they ignored it, then we got first country to go for it (El Salvador) then we got first company to use bitcoin as reserves, then ETFs launched, next the US is regulating it and talking about reserves and suddenly other countries see the opportunity.

I like this Czech banker. He thinks outside the box.

I still do think the US would be faster than him trying to push his ideas into motion, however - he is an interesting fella. Good luck to him!

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Quote from: OgNasty on January 29, 2025, 03:59:13 PM

Game Theory seems to be kicking off in high gear just in time for a massive bubble in 2025. Right on schedule for the 4 year cycle. States and now foreign countries are trying to front run the United States Strategic Bitcoin Reserve. How many more will take the leap? That remains to be seen. For me at least for now, it's all eyes on Arizona to see if they can become the first state to start buying Bitcoin with public funds. Buckle up!

And that's what surprises us in the market though, I mean every bull run there will have this kind of narrative. In 2017, it was institutions like CBoE and CME, in 2021, when the pandemic hits, there are a lot who put their money on Bitcoin as a hedge and then influencer like Elon Musk pushes Bitcoin and El Salvador enter the picture.

So now the whole narrative has started with Bitcoin being a strategic nation reserved. So again this is going to be a race, there are lot of super power like US, Russia and China trying to outdo themselves and then other nations want's to follow it as well.

aoluain

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

TBH I'm surprised we havent heard this before now and not just from the Czech
Republic. What I mean by that is wouldnt it make sense for a country to create its
own Bitcoin reserve but do it before the US government do it because the value
is only going to go one way and why would you wait for that to happen?

As Michael Saylor said if you keep putting your purchase off you get Bitcoin at
the price you deserve.

OgNasty

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Game Theory seems to be kicking off in high gear just in time for a massive bubble in 2025. Right on schedule for the 4 year cycle. States and now foreign countries are trying to front run the United States Strategic Bitcoin Reserve. How many more will take the leap? That remains to be seen. For me at least for now, it's all eyes on Arizona to see if they can become the first state to start buying Bitcoin with public funds. Buckle up!

coolcoinz

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I can only say one thing: God candle is around the corner!

This is how it's going to be in a few years. First they ignored it, then we got first country to go for it (El Salvador) then we got first company to use bitcoin as reserves, then ETFs launched, next the US is regulating it and talking about reserves and suddenly other countries see the opportunity.

I like this Czech banker. He thinks outside the box.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

....

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

i can see that other countries' steps to launch bitcoin reserves could be faster than america's... because the political and economic complexity in other countries could be lower, and their interest in bitcoin could be greater than america's. this is what makes the acceleration of the implementation of the bitcoin reserve faster for other countries.

and in this case, the czech republic came out as a country that really wants to create a billion-dollar bitcoin reserve, and that has been emphasized by the head of their central bank. it is possible that they will be the first country to make bitcoin their reserve, and that would be very positive news for bitcoin.

Franctoshi

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

US has begun the move already, So even though they have not passed the bill yet, This has opened doors for other countries to follow suit seeing the potentials that come with investing into Bitcoin, and we may be in the verge of seeing countries and their Central banks FOMO in immediately after US is set with their Bitcoin strategic reserve, and I kind of think this is why we haven't seen massive Bitcoin strategic reserve Central Bank applications from various countries. It could be that they're just waiting for the US to fully implement theirs.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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?

If it happened already in the US with Trump leadership, I think it's very likely that many other countries are going to copy his actions towards the acquisition of Bitcoin and then have a Bitcoin strategic plan. It's very simple for these countries to follow US with these matters even if they don't have an idea on what's happening, if it's US, then there must be something that they shouldn't be late for. But it makes sense that these plans come because we're in a bull run and this could simply be part of the FOMO that we use to see every time we're on this season.

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I've heard good stories about crypto-friendliness in the Czech Republic, but I think it's truly special for the Central Bank to be not just pro-crypto, but actually pro-Bitcoin. That's uncommon, as central banks often act as regulators, and they often oppose Bitcoin because it's not legal tender, and they don't want it to be. Billions of reserves isn't that much for a country (the article says they're talking about 5% of reserves), so I'm quite sure it's a risk this country can afford. This might set a positive precedent if they follow through with this.

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Quote from: Z-tight on January 29, 2025, 09:44:11 AM

~snip~
However, here is an unpopular opinion, is it actually a good thing if so many countries buy billions in BTC, yeah it will be massive for the price of BTC, but won't these centralized institutions have the power to manipulate the price of BTC in the future.

If millions of BTC are in the possession of central banks one day, it will certainly have certain risks in terms of price in the event that any of them at some point sells a large amount of them. However, it is not something that is talked about too much today, because many people are of the opinion that central banks will treat BTC as digital gold, and we all know that central banks do not sell gold just like that or in large quantities.

The question arises whether it is a good thing for central banks to start buying BTC at all, considering that it will further undermine the fundamental idea behind BTC's creation, but none of us have the power to stop something like that, just as no one asked us whether spot BTC ETFs should be approved.

The genie has been let out of the bottle and no one can put it back in.

Z-tight

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So many speculations and talks of interest in a BTC strategic reserve, but no action yet, it is obvious to all of us that the U.S. is most likely going to create a BTC strategic reserve sooner than the other countries that have showed interest in anyway through their public officials. Probably they are waiting for the U.S. to make the first move.

However, here is an unpopular opinion, is it actually a good thing if so many countries buy billions in BTC, yeah it will be massive for the price of BTC, but won't these centralized institutions have the power to manipulate the price of BTC in the future.

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Quote from: hugeblack on January 29, 2025, 07:38:04 AM

Usually the purchase order is made and then the news is broadcast to the media and since the opposite has happened, I rule out that any purchases have happened or will happen soon. In general, it is a proposal and needs good political support to be read and therefore the road is still long but the idea itself is considered revolutionary.

I’ve been hearing a lot of news about different countries trying to create a strategic Bitcoin reserve, but the magic number always seems to be 5%. I know where this comes from, it originally came from a proposal suggesting that the U.S. should buy 5% of Bitcoin’s total supply, if I’m not mistaken. But in this case, a central bank is talking about diversifying 5% of its total reserves into Bitcoin.

If you think about it, if more countries start realizing this plan, it would trigger massive Bitcoin buying worldwide, and there’s only one direction for the price to go: up. So this is definitely good news, even though we’re still waiting for it to actually happen.

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Bullish but only if they agree to buy & actually do it. In recent months we’ve seen Microsoft & Amazon suggest buying Bitcoin to their shareholders & directors but not agreed to buy. It would be nice to get a really big news boost to stir up FOMO. Maybe this could be it although let’s not get our hopes up.

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I hope Michl will invite a very knowledgeable and convincing resource person-- influential as well if possible-- to present the argument for Bitcoin to their board.

I can't think of anybody, though. I'm torn between legitimate Bitcoin experts and the likes of BlackRock's Larry Fink, for example. Either way, it should be one who can put forward a convincing argument in favor of Bitcoin not just in terms of its price but also in terms of its revolutionary features.

I don't think another country will have a Bitcoin strategic reserve first before any US state. As a matter of fact, if what I've read is true, Arizona and Utah have already passed their Bitcoin strategic reserve bills out of the committee level. They're now headed to the senate for further review and eventually voting.

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Usually the purchase order is made and then the news is broadcast to the media and since the opposite has happened, I rule out that any purchases have happened or will happen soon. In general, it is a proposal and needs good political support to be read and therefore the road is still long but the idea itself is considered revolutionary.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: _act_ on January 29, 2025, 06:06:54 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

_act_

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

~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.

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Quote from: Faisal2202 on January 29, 2025, 04:33:49 AM

Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: betswift on January 29, 2025, 02:42:06 AM

Quote from: ? on January 29, 2025, 02:37:48 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: betswift on January 29, 2025, 03:10:54 AM

Quote from: Sanitough on January 29, 2025, 03:01:52 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: Sanitough on January 29, 2025, 03:01:52 AM

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.

Sanitough

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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.

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Quote from: OmegaStarScream on January 29, 2025, 02:41:38 AM

Quote from: fikrett on January 29, 2025, 02:25:36 AM

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.

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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.

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Quote from: ? on January 29, 2025, 02:37:48 AM

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.

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Quote from: fikrett on January 29, 2025, 02:25:36 AM

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?

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Quote from: OmegaStarScream on January 29, 2025, 02:22:10 AM

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

fikrett

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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.

OmegaStarScream

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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?

Topic: JUST IN: Head of Czech's central bank wants to buy billions in Bitcoin (Read 303 times)