Czech central bank on the brink: Board member Kubicek expresses skepticism about Bitcoin - volatility and legal concerns in the focus
<p> <strong> Czech central bank on the brink: Board member Kubicek expresses skepticism about Bitcoin - volatility and legal concerns in the focus </strong> </p>
CNB board member expresses skepticism compared to Bitcoin
In a current interview, Jan Kubicek, a member of the Board of Directors of the Czech National Bank (CNB), positioned himself as a critical observer of Bitcoin. According to a report by the Reuters news agency, Kubicek showed fundamental concerns about the leading cryptocurrency.
reasons for skepticism
Kubicek justified his skeptical attitude primarily with the legal status of Bitcoin. He pointed out that in the event of a direct participation of the central bank, new accounting and examination processes would be required. These additional requirements could bring complexity to the bank's operating process.
Another central point of Kubicek's concerns is the high volatility of the Bitcoin price. This inconsistency makes it difficult to investigate reliable assessments of price development. Despite these concerns, Kubicek expressed hope that Bitcoin's strong price fluctuations could decrease in the future.
"We cannot be sure that Bitcoin's volatility will reflect the patterns observed in the past ten years, because I suspect that Bitcoin will behave differently than before if more institutional investors accept Bitcoin as an investment object," says Jan Kubicek.
Future of the Bitcoin market
It remains uncertain whether the Czech National Bank will ultimately enter the Bitcoin market. A CNB study is to be published in October, which deals with investments in alternative asset classes. The final decision about this will be the seven -member board of the National Bank.
In addition to Kubicek, Vice-Gouverneur Eva Zamrazilova also expressed a negative manner to Bitcoin and described it as unsuitable as a reserve asset. Governor Michl, on the other hand, seems to have more positive views about Bitcoin and recognizes the differences between Bitcoin and other cryptocurrencies.
These different opinions within CNB show that the discussion about Bitcoin and its role in the financial world is still active and future developments are expected.
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