Czech National Bank Opens Door to Bitcoin as Reserve Asset

The Czech National Bank (CNB) is taking a bold step toward diversifying its reserves, potentially paving the way for Bitcoin (BTC) to be included on its balance sheet. On Thursday, the bank's board approved a proposal to explore investments in alternative asset classes—a move that could mark a historic shift for a European central bank.

The proposal, championed by CNB Governor Aleš Michl, aims to evaluate new asset options beyond traditional holdings. Michl, however, has already signaled a strong interest in Bitcoin, stating earlier this week, “My goal is to diversify the portfolio, so if Bitcoin is good [for that], then let’s have it.”

While the approval doesn't guarantee immediate action, it marks a significant step toward integrating digital assets into central bank reserves. The CNB clarified that no changes will be made until a thorough analysis is completed.

However, not all Czech officials are on board. Finance Minister Zbynek Stanjura voiced skepticism, stating that a central bank should represent stability—something he believes Bitcoin lacks due to its volatility. Meanwhile, the European Central Bank (ECB) remains firmly opposed, with President Christine Lagarde asserting that Bitcoin is unlikely to find a place in EU central banks' reserves.

Although the Czech Republic does not use the euro, it remains an EU member, meaning its monetary policies are closely watched. The CNB has yet to specify which assets it is considering, but Bitcoin's inclusion in the conversation signals a growing interest in digital assets at the highest levels of European finance.