Governor Ales Michl to Present Bitcoin Investment Plan to Board
The Czech National Bank (CNB) is considering adding Bitcoin (BTC) to its reserves as part of a diversification strategy, according to an interview with Financial Times (FT). Governor Ales Michl will present the proposal to the bank’s board on Thursday, which, if approved, could see the central bank allocate 5% of its $146.13 billion reserves to the world’s largest cryptocurrency.
Bitcoin as a Diversification Tool
“For the diversification of our assets, Bitcoin seems good,” Michl said, as quoted by FT and Reuters. He noted the growing institutional interest in Bitcoin, particularly after BlackRock and other major asset managers launched spot Bitcoin exchange-traded funds (ETFs) over the past year.
The move would make the Czech National Bank one of the first major central banks to include Bitcoin in its reserves. However, the bank has yet to officially confirm the plan, and it remains unclear whether the board will approve the proposal.
A Potential Shift in Central Bank Strategy
If the Czech central bank proceeds with the investment, it would mark a significant shift in global monetary policy trends, as central banks traditionally hold reserves in fiat currencies, gold, and government bonds. The decision could also pave the way for other central banks to explore Bitcoin as part of their reserve strategy.
