In a groundbreaking development that could reshape the financial landscape of Europe, the Czech Republic’s central bank is considering a bold move: investing billions of euros of its reserves into Bitcoin. Aleš Michl, the governor of the Czech National Bank (CNB), has floated the idea of allocating up to 5% of the bank’s €140 billion ($145.6 billion) reserves into the world’s leading cryptocurrency. If approved, this would mark the first time a Western European central bank has ventured into Bitcoin as a reserve asset.

The Czech National Bank is joining a growing global trend of exploring Bitcoin as a potential reserve asset. Governor Aleš Michl recently revealed his interest in acquiring Bitcoin to diversify the country’s foreign exchange reserves, signaling a shift in how central banks view cryptocurrency’s role in national financial strategies.