The Czech National Bank (CNB) has approved a proposal to explore diversifying its reserves, potentially including Bitcoin.
The CNB Governor Aleš Michl, who advocates for studying "additional asset classes," has repeatedly expressed interest in Bitcoin as a diversification tool. "My goal is to diversify the portfolio, so if Bitcoin is good [for that], then let’s have it," Michl said. He told the Financial Times that the CNB could hold up to 5% of its €140 billion ($145.6 billion) in reserves in Bitcoin.
However, the proposal faces opposition. Finance Minister Zbynek Stanjura criticized Bitcoin's volatility, stating, "The central bank should symbolize stability."
Though the Czech Republic doesn’t use the euro, it is an EU member, granting its central bank a seat on the ECB’s General Council. Council chair Christine Lagarde, who advises on financial and monetary policies, also dismissed the idea, asserting she is "confident" Bitcoin won’t enter EU central bank reserves.