The Czech National Bank (CNB) is considering adding Bitcoin to its foreign exchange reserves as part of a diversification strategy.

CNB Governor Aleš Michl will present the proposal at a board meeting on January 30th, he told the Financial Times.

If approved, the plan could involve Bitcoin purchases worth approximately $7.3 billion, based on the CNB’s total reserves exceeding $146 billion, according to Bitwise’s head of research, André Dragosch. 

In a January 29th post on X, Dragosch noted that such an investment would equal about 5.3 months of newly mined Bitcoin supply.

Michl previously suggested Bitcoin could serve as a reserve asset and hinted at acquiring "a few Bitcoin" for diversification. 

However, as of January 7th, the CNB maintained it was not considering Bitcoin investments, with board adviser Janis Aliapulios stating the bank aimed to increase its gold reserves to 5% of total assets by 2028.

Michl emphasized in a January 29th X post that the board will conduct a thorough review before making a final decision.

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