The Bank of Korea has never considered including bitcoin in its foreign exchange reserves

The Bank of Korea made it clear that it had "never considered including bitcoin in its foreign exchange reserves". "We believe that the inclusion of bitcoin in the foreign exchange reserves needs to be treated with caution," the Bank of Korea said on the 16th in response to a written question from a member of parliament and a member of the Planning and Finance Committee. This is the first time the Bank of Korea has taken a position on the issue of bitcoin reserves.
The first reason for the Bank of Korea's negative attitude is the high volatility of the bitcoin price. In this regard, the Bank of Korea pointed out: "If the virtual asset market becomes unstable, Bitcoin may face the risk of a sharp increase in transaction costs during the liquidation process." In addition, the Bank of Korea also said: "We believe that Bitcoin does not meet the international monetary fund (IMF) foreign exchange reserve calculation standards." For these reasons, the Bank of Korea replied: "As of now, we have never discussed or considered including Bitcoin in foreign exchange reserves." The Bank of Korea also added: "It is understood that some countries such as the Czech Republic and Brazil are positive about this, but the European Central Bank (ECB), the Swiss National Bank and the Japanese government have all expressed opposition."