CZ

Czech central bank officials express "doubt" about Bitcoin as a reserve asset

ChainCatcher news, according to a report by Reuters, Jan Kubicek, a member of the Czech National Bank (CNB) board, holds a "skeptical attitude" towards incorporating Bitcoin into the bank's large reserve assets, primarily due to concerns about its legal uncertainty and the volatility of digital currencies. Earlier this year, CNB Governor Ales Michl proposed considering Bitcoin, and the bank has begun analyzing the possibility of expanding the asset classes in its reserve investment portfolio. However, CNB Vice Governor Eva Zamrazilova has stated that Bitcoin is not a suitable reserve asset.In an interview on Tuesday, Kubicek stated, "We will evaluate different categories of assets, and Bitcoin is just one of them. I have a fairly skeptical attitude towards Bitcoin." He pointed out that the legal status of Bitcoin is an issue, as directly holding Bitcoin would mean developing many new processes in areas such as accounting or auditing. He also mentioned that volatility is another concern, making it difficult to assess market price trends. He said, "We cannot be sure whether the volatility of Bitcoin in the coming years will resemble the patterns observed in the past decade, because I doubt that if more institutional investors accept Bitcoin as an investment asset, its performance will be different from what we have seen so far."Kubicek indicated that the bank's research on new asset classes may be completed before October, and this research could explore the possibility of holding international corporate bonds, as well as investing in more targeted stock indices (such as technology) and real estate investment funds.

Zhao Changpeng mentioned the new token issuance mechanism concept: an initial unlock of 10%, and subsequent unlocks require meeting certain price conditions

ChainCatcher news, CZ posted on platform X about a crazy idea for a token issuance: What if someone issues a token with the following tokenomics?Initially, 10% of the tokens are unlocked and sold on the market, with the proceeds used for the project team's development of products/platforms, marketing, compensation, etc. Each future unlock must meet all of the following conditions:Six months after the last unlock.Only if the token price has maintained above twice the previous unlock price for more than 30 days prior to the unlock.A maximum of 5% of the tokens can be unlocked each time.For example, if the TGE price is $1 in January, by June, if the token price is still below $2, no more tokens can be unlocked. Assuming the token price is above $2 between July 4 and August 3, then on August 3, 5% of the tokens can be unlocked for circulation. Assuming the price on August 3 is $3. The next earliest unlock date is March 3 of the following year, and it can only be unlocked if the price has been above $6 for more than 30 days.The project team has the right to decide to postpone or reduce the scale of each unlock. If they do not want to sell more, they do not have to. But each time they can sell (unlock) a maximum of 5%, and then they must wait at least 6 months, and the price must double again. The project team does not have the right to shorten or increase the scale of the next unlock. The tokens will be locked through a smart contract controlled by a third party's keys. This can prevent new tokens from flooding the market during price downturns while also incentivizing the project team to build long-term.However, CZ emphasized that he has no plans to issue new tokens, just a discussion idea.
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