In a groundbreaking move, Aleš Michl, the president of the Czech Republic’s Central Bank, has put forth a proposal to allocate 5% of the bank’s reserves to Bitcoin. This significant recommendation is scheduled for review by the central bank’s seven-member board, potentially leading to an investment of approximately 7 billion euros.
Michl's proposal represents a major shift in the bank's investment strategy, highlighting the growing recognition of Bitcoin as a viable asset by traditional financial institutions. Should the board approve, this move could have far-reaching implications for the adoption of Bitcoin in the European banking sector.