Another European country considers buying Bitcoin

The United States plan to create a ‘strategic Bitcoin reserve’ (which is at the moment only being ‘investigated’ by the Trump administration) is increasingly finding fans in Europe. The latest European country to consider purchasing Bitcoin in large amounts is the Czech Republic. The chairman of the Central Bank in Prague admitted this in an interview with the Financial Times.

After Christian Lindner, the chairman of the German Liberal Party and former finance minister, previously suggested the idea of ​​a ‘strategic Bitcoin reserve’ for the German government (which is organizing elections next month), similar initiatives have also been launched in Poland and Switzerland.

The last country to join the list is the Czech Republic. Governor Aleš Michl admits that he expects quite a bit of opposition to his proposal, but if his board of directors would allow him, he would want to invest 5 percent of the country’s 140 billion euro reserves in Bitcoin.

Michl calculated that investing 5% of their fiat reserves in Bitcoin would normally have meant a profit of 3.5% per year over the last decade for the Czech Central Bank.

Bhutan

Currently, countries such as the United States, El Salvador, the United Kingdom, Ukraine, Finland and Bhutan are the only ones to admit that they own Bitcoin. It is generally believed that Russia and China also have Bitcoins in their possession.

Only Bhutan and El Salvador have made these purchases with a clear intent in recent years, the other countries have mostly obtained them via seizures.

According to calculations by the Financial Times, the investment by a Central Bank of any mid-sized European country would be enough n.