Czech National Bank Might Buy Billions of Euros Worth of Bitcoin

Ales Michl, the governor of the Czech National Bank (CNB), has told the Financial Times that he will propose buying Bitcoin to the board.

If the CNB’s board greenlights the proposal, the national bank could allocate up to 5% of its assets to Bitcoin.

Michl sees Bitcoin as a means of diversifying the bank’s assets, which currently stand at more than $146 billion euros.

He pointed to the US-based Bitcoin ETFs launched by financial Bitcoin as a sign of broad investor demand.

As reported by U.Today, Christian Lindner, the former finance minister of Germany, recently spoke in favor of diversifying Germany’s reserves with the help of the largest cryptocurrency. He also opined that the European Central Bank (ECB) should buy Bitcoin as well