Quick take:
- CNB’s test portfolio of digital assets includes Bitcoin, a test investment in a USD stablecoin, and a tokenised deposit on the blockchain.
- The bank does not plan to increase the test amount invested in the portfolio, as its purpose is to gain practical experience with holding digital assets.
- According to the press release seen by NFTgators, the purchase was made outside CNB’s existing international reserves.
Czech National Bank (CNB) has become the first central bank in history to purchase digital assets. According to the press release seen by NFTgators, the bank invested $1 million in crypto, with Bitcoin the primary asset, alongside a test investment in a USD stablecoin, and a tokenised deposit on the blockchain.
CNB said the purchase was made outside CNB’s existing international reserves. The bank does not plan to increase the test amount invested in the portfolio, as its purpose is to gain practical experience with holding digital assets.
“The analysis shows that digital assets are evolving and being incorporated into the investment assets of funds and corporations, and that they may gain increasing acceptance in the future,” the bank wrote. “The CNB intends to be prepared for these changes.”
Subsequently, the CNB is not planning to include bitcoin or other digital assets in its international reserves in the near future.
Commenting on the announcement, CNB Governor Aleš Michl said he came up with the idea of creating a test portfolio in January 2025. The intention was to test decentralized Bitcoin from the perspective of the central bank and evaluate its potential role in diversifying the bank’s reserves.
“The Bank Board then decided to have an analysis prepared. Subsequent internal discussions broadened the scope to include the future of payments and the tokenisation of assets. As a result, stablecoins and tokenised deposits were included alongside bitcoin,” said Michl.
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