Czech crypto plans could see Czechia Bitcoin reserve established before the USA. Is it time to buy more altcoins and meme coins like Wall Street Pepe (WEPE)?
When Donald Trump said he might consider creating a Bitcoin Reserve in the United States back when he was campaigning, crypto analysts knew it would be massive for adoption. However, no one anticipated the Czech Republic to be the first to float the idea of a Bitcoin reserve.
MicroStrategy is already buying BTC, keen on removing all coins in circulation, and if central banks get involved, this could just be the beginning of a BTC scarcity.
Will Czechia Crypto Plan Work: Beating USA to Buy Bitcoin And Expand Their Reserve?
Aleš Michl, the governor of the Czech National Bank (CNB), proposed allocating a portion of the country’s reserves to Bitcoin. He wants the country to invest just 5% of its $145 billion reserve in Bitcoin as part of its diversification strategy.
Holding Bitcoin, the governor said, would make its economy more stable against inflation risks.
The deflationary nature of BTC means the coin can be a perfect hedge in an increasingly inflationary environment made worse by central banks slashing rates as the economy improves.
Michl also added that he was aware of Bitcoin’s volatility, noting there is a possibility of the asset dropping to zero or reaching an “absolutely fantastic value” in the years to come.
“It’s possible to have a big range of outcomes, that Bitcoin will have a value of zero or an absolutely fantastic value…but in our history, we have also had some stocks like Enron or the payment company Wirecard, so we have some experience with bad investments, so, yes, I’m ready [for a possible Bitcoin collapse].”
The proposal is just that, a proposal. However, if implemented, the Czech Republic will be the first country in the EU to hold crypto and BTC as part of its reserves.
It will be interesting to watch how the Czech Republic receives this proposal. As history shows, the CNB has been bold.
Unlike other banks that prefer safety, they chose to buy more equities in 2023, increasing their exposure to around 22%—which is way higher than most central banks.
Following Trump and The United States?
With Donald Trump in power and keen to make America a crypto hub, the industry will likely boom during his tenure. In the United States, there are key policy proposals, some of which include the creation of a strategic crypto and Bitcoin reserve.
Proponents argue that such a reserve would cement the country’s lead. Wyoming Senator Cynthia Lummis has introduced a bill to establish such a reserve, pointing out the asset’s growing influence and how it may benefit the country’s financial stability in the long term.
Will Meme Coins And Wall Street Pepe Boom?
If Bitcoin is part of the reserve of any central bank, even outside the United States, meme coins and altcoins will spike.
And this is the future that analysts say is inevitable.
Aware of this possibility, savvy investors have been buying Wall Street Pepe (WEPE) in droves.
Investors have bought over $63.5 million worth of WEPE tokens in the ongoing presale. Each token is available for just $0.0003665.
The low cost and high potential of WEPE and the broader meme coin scene partly explain why Wall Street Pepe is raising over $1 million from investors every day.
At this pace, the project will easily reach the $72 million hard cap within the next few days.
If you don’t want to miss out, this is the best time to buy WEPE.
Once the presale ends, WEPE will list on top exchanges. Analysts predict that the token can easily rally when this happens, surging by over 100X.
Investors expect WEPE to debut on Uniswap before securing listings on centralized exchanges (CEXs).
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