Central banks buying Bitcoin? The quiet exposure no one’s talking about
2025-07-14 00:11:50
Main Idea
The Czech Central Bank's investment in Coinbase and MicroStrategy's Bitcoin holdings are providing indirect Bitcoin exposure to central banks, as Bitcoin's price surge boosts equity gains for companies with BTC holdings.
Key Points
1. Bitcoin's price surge to a new all-time high of $118k has resulted in 100% of holders being in net profit, positively impacting publicly traded firms with BTC exposure.
2. MicroStrategy (MSTR) saw a 40% stock rally in Q2 and holds 597,325 BTC, with unrealized profits exceeding $6 billion.
3. The Czech Central Bank added Coinbase shares to its S&P 500 equity strategy, indirectly gaining Bitcoin exposure through Coinbase's 6,885 BTC holdings.
4. Market expectations suggest MicroStrategy may join the S&P 500, which would further increase central banks' indirect Bitcoin exposure.
5. Bitcoin's performance has outpaced gold, with MSTR delivering over 40% returns in Q2 compared to gold's 4.8% gain.
Description
The Czech Central Bank’s equity play now tracks Bitcoin. Here's why direct buying may be next.
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