Czech central bank chief wants to spend billions on Bitcoin after Trump 'guys' spark bubble

Governor of Czech National Bank Aleš Michl (L) and Luiz Awazu Pereira da Silva (R), Deputy General Manager at Bank for International Settlements, arrive to participate in the morning session during of the second day of the 2023 European Central Bank Forum on Central Banking on June 27, 2023, in Sintra, Portugal. (Credit: Horacio Villalobos#Corbis/Corbis via Getty Images)

The boss of the Czech Republic’s central bank wants to pump billions of euros of the country’s reserves into Bitcoin, a landmark move that would likely upset fellow European central bankers.

Czech National Bank (CNB) governor Aleš Michl floated the idea of his country becoming the first in Western Europe to hold some of its reserves in cryptocurrency, suggesting the CNB could hold up to 5% of its €140 billion ($145.6 billion) in reserves in Bitcoin.