In a groundbreaking move, the Czech National Bank (CNB) has officially entered the crypto investment space by purchasing over 51,000 shares of Coinbase Global.
The central bank’s stake, which marks its first-ever investment in a crypto-related company, is now valued at more than $20 million.
According to a recent Form 13F filing with the U.S. Securities and Exchange Commission, the CNB acquired exactly 51,732 shares of Coinbase on July 14. At the time of purchase, the shares were worth approximately $18.13 million. Since then, Coinbase’s stock has climbed, closing at $387.06 per share, which brings the bank’s holding to a valuation above $20 million, according to Google Finance data.
Coinbase’s stock has surged by nearly 56% year-to-date, driven by strong bullish momentum across the crypto market and its recent acquisition of key firms, such as Deribit. The Czech central bank’s investment aligns with its broader strategy of exploring crypto assets as part of its portfolio diversification efforts.
Earlier this year, CNB Governor Aleš Michl proposed allocating up to 5% of the bank’s reserves into Bitcoin, a move that could channel nearly €7 billion into the world’s largest digital asset. While Michl has described Bitcoin as a potential hedge that could diversify the bank’s €140 billion reserves, the proposal remains under deliberation amid concerns raised by other board members.
Board member Jan Kubicek cautioned against Bitcoin’s extreme price swings, arguing that its volatility undermines its attractiveness as a central bank reserve asset. For now, CNB officials have neither approved nor dismissed the proposal, stating they are still evaluating the legal and financial implications of adding BTC to the bank’s holdings.
Meanwhile, Coinbase has continued its expansion strategy, recently announcing a talent acquisition deal with Opyn. The company revealed that Opyn CEO Andrew Leone and Head of Research Joe Clark would join Coinbase, bolstering its efforts to integrate traditional market functionality into public blockchains.
This landmark Coinbase investment by the Czech central bank signals growing institutional interest in bridging traditional finance with the rapidly evolving digital asset sector.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
