Bank Council at the Czech National Bank (CNB) consent A proposal to evaluate investment in new assets chapters, including Bitcoin, as part of the International Reserve Management Strategy. The decision came during today’s meeting, as the Board of Directors reviewed a report on the International Reserve Department for the year 2024.
Only in: 🇨🇿 The Czech National Bank agrees to the proposal to evaluate investment in additional assets classes, such as Bitcoin.
Yesterday, the ruler of the Czech National Bank said it was so "It is worth looking" Investing in Bitcoin. pic.twitter.com/y2qnddnmcg
Bitcoin (PitcoinMagazine) Magazine January 30, 2025
The Central Bank said that approval is the result of the continuous diversification efforts of CNB over the past two years. Governor Alice Michael suggested the analysis, with the aim of determining whether Bitcoin could enhance diversification and central bank reserve returns. However, CNB explained that no immediate changes will occur, and the results of the analysis will direct any future steps.
This announcement comes just one day after Michel revealed the intentions of allocating up to 5 % of the CNB reserve worth 140 billion euros to Bitcoin, in an interview with Financial times. This allocation can make the Czech Republic the first Western central bank to embrace Bitcoin in its public budget. Michl emphasized that Bitcoin specifically can offer an innovative approach to reservation and diversification.
If implemented, the CNB step may put a turbulent precedent for central banks worldwide, highlighting the broader shift towards bitcoin integrating into traditional reserve strategies. The Central Bank said it is planning to reveal any amendments to the reports of the quarterly and annual reserve management.