Czech National Bank governor weighs Bitcoin for future reserve strategy
Aleš Michl, governor of the Czech National Bank, is considering Bitcoin as a potential diversification strategy for the country's foreign exchange reserves. He mentioned acquiring a small amount of Bitcoin, pending approval from the bank's board. Currently, the bank is not planning to invest in Bitcoin but remains open to future discussions. The bank aims to increase gold holdings to about 5% of total assets by 2028. Bitcoin's significant yearly returns, over 131%, contrast with gold's 30% rise, prompting reevaluation of reserve assets. In the U.S., the Bitcoin Act, supported by bipartisan lawmakers, proposes a strategic Bitcoin reserve, gaining traction with the Republican majority. This could lead to broader adoption and potentially increase Bitcoin's value significantly.
