The Czech National Bank has created a $1 million digital asset pilot portfolio, becoming the first central bank to purchase Bitcoin.

BlockBeats News, November 13th, the Czech National Bank (CNB) announced the creation of a $1 million digital asset pilot portfolio, covering Bitcoin, a US dollar stablecoin, and tokenized deposits. The funding for this purchase comes from outside its existing international reserves.

The project aims to test the central bank's process of purchasing, holding, and managing blockchain assets for a period of 2 to 3 years. This investment is not part of the foreign exchange reserves, and CNB Governor Aleš Michl stated that the goal is to explore Bitcoin's potential role in reserve diversification.