Aleš Michl, governor of the Czech National Bank, contemplates the inclusion of Bitcoin in the bank's reserves, though it's still in early discussion stages.
Early Phase of Bitcoin Consideration
In an interview with local media CNN Prima News, Aleš Michl, governor of the Czech National Bank, stated that he views Bitcoin as an interesting option for diversifying the bank's reserves. Despite this interest, no concrete steps have been taken by the bank towards a cryptocurrency strategy. Michl clarified that while he thought of acquiring a few Bitcoin, there was no intention of a significant investment. Any decision to allocate Bitcoin reserves would need board approval from seven members.
Focus on Traditional Assets
Instead of cryptocurrencies, the Czech National Bank plans to increase its gold reserves to make up 5% of its total reserves by 2028. This indicates a preference for traditional assets over virtual currencies for the time being.
Global Bitcoin Trend
Michl’s interview confirms a global trend that emerged after Donald Trump’s election, where many countries and banks started considering Bitcoin as a reserve option. In the USA, leaders like Donald Trump and Wyoming Senator Cynthia Lummis advocate for the creation of a national strategic Bitcoin reserve. Other countries, such as Brazil, Poland, Germany, Russia, and Switzerland, have also been discussing Bitcoin treasury programs, although their approaches vary.
The Czech National Bank's considerations show a growing interest in cryptocurrencies as an alternative asset, though a decision has yet to be made. Continuing this discussion may impact the future financial policy of the bank.
