Central Banks Could Buy Bitcoin on Trump's Crypto Proposals — Market Talk

President Trump's plans to explore a cryptocurrency stockpile could encourage some central banks to buy bitcoin, Standard Chartered's Geoffrey Kendrick says in a note. Central banks that are considering investing in bitcoin could be emboldened by the fact the U.S. government is going to at least hold on to the 270,000 bitcoins it currently owns and potentially buy more at some stage, he says. Czech National Bank Governor Ales Michl is putting forward a proposal to the board to invest as much as 5% of the central bank's reserves in bitcoin at a meeting Thursday. Bitcoin advocates in Switzerland are also pushing for a national vote to add bitcoin to the Swiss National Bank's reserves. ([email protected])