Czech Central Bank governor mulls Bitcoin allocation

Czech National Bank governor Aleš Michl has flirted with the idea of ​​adding Bitcoin to the bank’s reserves but stressed that the idea is still in its infancy.

In an interview with local media CNN Prima News, ČNB president Aleš Michl said he sees Bitcoin (BTC) as an “interesting option” to diversify the bank’s reserves.

Michl explained that ČNB is constantly evaluating its portfolio and new assets. Still, the bank has not embarked on any concrete cryptocurrency strategy. In any case, a seven-member bank board would need to approve a potential BTC reserve allocation.

Michl explained that no decision had been made, saying, “I was just thinking of buying a few Bitcoins, but I never thought of making a significant investment.”

Instead, ČNB plans to increase its gold treasury to 5% of its total reserves by 2028. The news shows that for now, the focus is on traditional assets rather than cryptocurrencies like BTC.

Bitcoin enables greater global mindshare

Michl’s interview reaffirmed a global trend that has emerged since Donald Trump was declared the winner; More countries, banks and firms are considering BTC as a reserve option. In the US, Trump and Wyoming Senator Cynthia Lummis have strongly advocated for the creation of a national strategic BTC reserve.

Lummis suggested changing laws that would allow the Federal Reserve to hold crypto, addressing concerns raised by Fed chairman Jerome Powell. Several American states, including Texas and Ohio, have also proposed legislation to establish BTC treasuries.

Meanwhile, the BTC treasury program spread like wildfire in other places such as Brazil, Poland, Germany, Russia and Switzerland, although discussions varied between jurisdictions.

Rumors that approximately 21 nation-states are investigating BTC reserve policies have filled the social media corridors, but these rumors have not been confirmed by crypto.news at the time of writing.