Czech Republic plans to acquire billions of euros worth of Bitcoin.

The Czech National Bank (CNB) is considering the possibility of adding bitcoins to its currency reserves.

This is reported by writes the Financial Times.

Chairman of the Central Bank Aleš Michl stated that he will present an investment plan in Bitcoin to the board during the meeting on Thursday as a way to diversify the CNB's reserves. According to him, if the board approves this plan, the CNB could eventually hold up to 5 percent of its €140 billion reserves in bitcoins.

“For diversifying our assets, Bitcoin seems like a good option. These guys [Trump] might create a bubble for Bitcoin, but I believe the trend will continue to grow without them, as it is an alternative [investment] for more people,” said Michl.

Central banks traditionally keep their reserves in conservative assets, such as U.S. Treasury bonds and other high-rated bonds. Some of them hold stocks, but hardly any have publicly invested in cryptocurrency.

Michl mentioned that he has “a completely different philosophy” regarding Bitcoin compared to his colleagues.

Last year, representatives of the European Central Bank stated that “the fair value of bitcoin is still zero,” adding that “Bitcoin is not suitable as a means of payment or as an investment,” while former ECB official Benoît Cœuré previously referred to Bitcoin as “the evil offspring of the financial crisis.”

If the Czech bank had held 5% of its currency reserves in bitcoins over the last decade, its annual return would have increased by 3.5%, but volatility would have also doubled, according to the report.