Czech Central Bank officials express' skepticism 'towards Bitcoin as a reserve asset

According to Reuters, Jan Kubicek, a member of the board of directors of the Czech Central Bank (CNB), is "skeptical" about including Bitcoin in the bank's massive reserve assets, mainly concerned about its legal uncertainty and the volatility of digital currencies. Earlier this year, Czech Central Bank Governor Ales Michl proposed to consider Bitcoin, and the bank has begun analyzing the possibility of expanding its asset classes in its reserve investment portfolio. Eva Zamrazilova, Deputy Governor of the Czech Central Bank, has stated that Bitcoin is not a suitable reserve asset. Kubicek said in an interview on Tuesday, "We will evaluate different categories of assets, and Bitcoin is just one of them. I am quite skeptical about Bitcoin." He pointed out that the legal status of Bitcoin is an issue, and directly holding Bitcoin would mean developing many new processes in accounting or auditing. He also mentioned that volatility is another concern, and assessing market price trends is also difficult. He said, "We cannot be sure if the volatility of Bitcoin in the coming years will be similar to the patterns observed in the past decade, because I suspect that if more institutional investors accept Bitcoin as an investment asset, its performance will be different from what we have seen so far Kubicek stated that the bank's research on new asset classes may be completed before October, and these studies may explore the possibility of holding international corporate bonds, as well as investing in more targeted stock indices (such as technology) and real estate investment funds.