Czech Central Bank Buys $1 Million Worth of Cryptocurrency

The Czech central bank has purchased $1 million worth of bitcoins and other blockchain-based digital assets to study the specifics of the digital market.

The bank will publish the first results of the project in the next 2-3 years.

The portfolio, which is mainly made up of bitcoins, also includes a US dollar-based stablecoin and tokenized deposits.

The Czech central bank said the purchase was made through a regulated exchange, although it did not specify the specific exchange or assets. The test portfolio will be kept separate from the bank’s official reserves and will be used by the bank to test all processes related to the purchase, storage and management of digital assets.