Czech Central Bank Makes First Crypto Move With $20M Coinbase Share Purchase

     

Investment in Coinbase Signals Possible Bitcoin Allocation Ahead

The Czech National Bank has made its first-ever investment in a crypto-related company by acquiring 51,732 shares of Coinbase Global, now valued at over $20 million. The purchase was disclosed in a recent Form 13F filing with the U.S. Securities and Exchange Commission.

At the time of the acquisition on July 14, the shares were worth $18.13 million. Since then, Coinbase stock has climbed to $387.06 per share, boosting the investment’s current value to around $20 million.

Coinbase shares have surged 55.88% year-to-date, supported by a strong crypto market rebound and the company’s recent acquisitions, including derivatives platform Deribit.

Czech Bank Eyes Crypto Strategy Expansion

This move aligns with the Czech central bank’s broader exploration of digital assets. Earlier this year, Governor Aleš Michl proposed allocating up to 5% of the bank’s €140 billion in reserves into Bitcoin as part of a diversification strategy.

While the proposal remains under consideration, some bank officials have raised concerns. Board member Jan Kubicek criticized Bitcoin’s volatility and questioned its suitability as a reserve asset for a central bank.

Despite internal debate, the Coinbase investment marks a tangible step toward crypto market exposure.

Coinbase Expands With Talent Acquisition

Coinbase has recently bolstered its team with the acquisition of talent from Opyn. CEO Andrew Leone and Head of Research Joe Clark are joining Coinbase in a bid to enhance market functionality on public ledgers.

The acquisition is seen as part of Coinbase’s broader strategy to integrate traditional finance mechanisms into crypto-native environments.