The Czech Republic is considering a strategic Bitcoin (BTC) reserve.
In an interview with The Financial Times, Ales Michl, the Governor of the Czech National Bank, said he is proposing to covert 5% of the country’s $146.13 billion U.S. reserves into Bitcoin.
The proposal must be presented to the Czech central bank’s board of directors and voted on before it can be enacted.
Michl pointed to investor interest in cryptocurrencies ever since BlackRock (BLK) and other asset managers launched spot Bitcoin exchange-traded funds (ETFs) a year ago.
In a social media post on X after the Financial Times interview, Michi said: “I will ask our team on Thursday to further assess Bitcoin’s potential role in our reserves. Nothing more, nothing less.”
The Czech central bank’s interest in a Bitcoin reserve comes as U.S. President Donald Trump has asked his administration to study the feasibility of creating a “Bitcoin stockpile” in America.
Crypto enthusiasts have long campaigned for central banks to hold Bitcoin in reserve as it would require governments to purchase large amounts of the largest cryptocurrency by market capitalization, pushing its price higher in the process.
Bitcoin is currently trading at $102,000 U.S., having risen 136% in the last 12 months.