Czech Finance Minister Zbynek Stanjura has warned against the CNB’s proposal to consider investing up to 5% of its reserves in Bitcoin, citing volatility risks.

Put forth by the central bank Governor Aleš Michl, the proposal was to study investing the bank's reserves in "additional asset classes." In an interview with the FT earlier this week, though, Michl had made clear his interest in this exercise was in possibly adding bitcoin as a reserve asset.

The Czech National Bank (CNB) is considering a groundbreaking move—investing 5% of its €140 billion ($146.13 billion) foreign reserves into Bitcoin, as per an FT report. This would make the CNB the first major Western central bank to integrate cryptocurrency into its reserves.