Czech National Bank Governor Aleš Michl plans to propose a strategy to the bank's board to invest in Bitcoin as a way to diversify the country's foreign exchange reserves, according to a report by the Financial Times. The proposal, which will be presented on January 30, could see the central bank allocate up to 5% of its €140 billion ($146 billion) reserves into Bitcoin, amounting to a potential investment of approximately €7 billion. If approved, the Czech National Bank would become the first European central bank to hold Bitcoin as part of its reserve assets. Michl stated that Bitcoin has zero correlation to bonds and is an interesting asset for a large portfolio. However, he noted that while Bitcoin is under consideration, there is no imminent decision. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io