CNB Weighs $7B Bitcoin Purchase While China Offloads $20B

The Czech National Bank (CNB) is considering Bitcoin as part
of its reserve diversification strategy, while China has reportedly sold a
significant portion of its holdings. The CNB board is set to review the
proposal at a meeting on January 30, according to the Financial Times.
Meanwhile, China is believed to have sold nearly $20 billion worth of Bitcoin
linked to the PlusToken Ponzi scheme.

The BTCUSD H1 chart showed a bullish move after finding
support but faced rejection at an intraday resistance level. A breakout above
the resistance could lead to a bullish day.

If approved, CNB’s Bitcoin investment could exceed $7.3
billion. This estimate is based on the bank’s total reserves of more than $146
billion, according to André Dragosch, head of research at Bitwise. He noted
that such a purchase would represent approximately 5.3 months of newly mined
Bitcoin supply.

Czech National Bank May Allocate Up to 5% of Reserves to Bitcoin as Part of Diversification Strategy, Potentially Acquiring BTC Worth Around $7.3 Billion
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💰Coin:
BTC ( $BTC ) $102,719.10
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NFA. pic.twitter.com/lnX44WiIyH

— COINOTAG NEWS (@coinotagen) January 29, 2025

Earlier in January, CNB board adviser Janis Aliapulios told
Cointelegraph that the bank was not considering Bitcoin
Bitcoin

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term investments at the
time. Instead, the bank planned to increase its gold holdings to 5% of total
assets by 2028. However,…