The Czech National Bank (ČNB) is exploring the potential inclusion of bitcoin as part of its reserve diversification strategy, according to Governor Aleš Michl. Speaking with CNN Prima News on Monday, Michl revealed that he proposed the idea of purchasing bitcoin to diversify the bank’s assets but clarified that no concrete plans to acquire cryptocurrency are currently in place.
“Bitcoin is an interesting option for diversification against other assets,” Michl said, noting that any decision would require consensus among the seven-member board. He also emphasized that his suggestion involved acquiring only a small amount of bitcoin, not making a substantial investment.
This discussion aligns with a broader trend among global policymakers contemplating cryptocurrency as a strategic asset. In 2021, El Salvador became the first country to implement an official bitcoin treasury program, sparking similar proposals from politicians worldwide, including in the United States.
While bitcoin remains a consideration, the ČNB is also focused on more traditional asset diversification. Michl confirmed plans to increase the bank’s gold reserves to approximately 5% of total assets by 2028, reinforcing a shift towards established, tangible assets.
As central banks globally evaluate their reserve strategies in a changing financial landscape, the ČNB’s openness to bitcoin highlights its potential role in modern reserve portfolios. However, the bank’s cautious approach underscores the challenges of integrating cryptocurrencies into traditional monetary frameworks.