Czech Point: Prague Central Bank Wants Bitcoin, Lummis Freaks Out

The Czech Republic’s central bank head recently echoed statements he made earlier in January boasting plans for the Central European nation to begin stockpiling Bitcoin, in remarks published by the Financial Times Wednesday.

On Thursday, the Czech National Bank (CNB) said it would start analyzing the prospects of introducing additional asset classes to its reserve, and many indicated that BTC was among those.

Bitcoins Czech Central Bank Ready to Hodl Bitcoin

“Those [Trump] guys can now kind of create some bubble for Bitcoin, but I think the trend would be an increase without those guys as well because it’s an alternative [investment] for more people,” Michl said. He acknowledged the move is unconventional and not without risks.

“Of course, if you compare my position with other bankers, then I’m the one entering the jungle, or the pioneer,” the central bank chief said. “I used to run an investment fund, so I’m a typical investment banker I would say. I like profitability.”

But he iterated that the point of adding Bitcoin is not to go whole-hog, the way El Salvador’s President Nayib Bukele has, for example. Instead, the move would be a modest one to diversify the Czech bank’s holdings.

“It’s possible to have a big range of outcomes, that bitcoin will have a value of zero or an absolutely fantastic value… But I’m saying that my goal is to diversify the portfolio, so if bitcoin is good, then let’s have it.”

Speaking to a CNN international affiliate earlier in the month, Michl mentioned the bank was looking into acquiring “a few Bitcoin.”

Bitcoins Sen. Lummis Sounds Alarm on Global BTC Race

If you’re not first, you’re last. America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century. pic.twitter.com/96huqxoHES

— Senator Cynthia Lummis (@SenLummis) January 29, 2025

The Financial Times article noted that the US central bank has no plans to acquire Bitcoin. In December, Federal Reserve chair Jerome Powell said, “We are not looking for a law change at the Fed.”

But, several US policymakers in Congress and the new White House administration are planning a strategic digital asset stockpile, perhaps under the authority of the US Treasury.

That includes Senator Cynthia Lummis (R-WY), who said on Wednesday in a post on X, “If you’re not first, you’re last. America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century.”