Czech Central Bank Expands into Crypto with $18M Coinbase Purchase

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The Czech National Bank (CNB) has entered the crypto space with a $18.1 million investment in Coinbase stock, according to its latest SEC filing.

The central bank bought 51,732 shares of Coinbase Global in Q2, now worth around $20 million. This follows the CNB’s January announcement that it was considering Bitcoin as part of its reserve diversification strategy.

Governor Aleš Michl previously told the Financial Times that the bank could allocate up to 5% of its €140 billion reserves to Bitcoin, pending approval. The Coinbase investment suggests the CNB is gradually increasing its exposure to digital assets.