The Governor of the Czech National Bank (ČNB), Aleš Michl, said the central bank is considering allocating Bitcoin (BTC) to diversify its reserves during a Jan. 6 interview with CNN Prima News.
Michl revealed this consideration by the ČNB while discussing the importance of diversifying the bank’s holdings among stocks, bonds, gold, and cash deposits.
He added:
“Bitcoin is a very, very interesting thing, but no one knows exactly if what we are reading is true because none of us has seen the Bitcoin code. If that’s the case, that’s the way it is, it’s very interesting as diversification against other assets.”
Moreover, the ČNB considered adding “just a few” BTC to its reserves. Michl stated the bank had no intentions of investing massively in it and that the gold investments would be enough diversification.
As part of its foreign currency diversification plan, the Czech National Bank intends to hold 100 tons of gold within four years.
Nevertheless, Michl claimed that the seven board members of the ČNB will continue to discuss the possibility of adding Bitcoin to the roadmap.
Not rocket science
This is not the first time Michl has discussed Bitcoin in a friendly tone. In January 2022, Michl led the educational team from the ČNB to a Czech elementary school.
After being introduced to finance concepts, the students shared questions about investments, including whether Bitcoin could be the currency of the future.
He answered:
“Bitcoin is an interesting concept, but before buying any investment, we must always consider the worst-case scenario for our money. It’s important to understand the basic principles and know how to find essential information. Just spend less time on Netflix and dedicate a bit more time to learning. It’s not rocket science.”
Notably, the Czech Republic approved legislation granting exemptions for income from crypto transfers on Dec. 6, 2024.
Individuals can claim an exemption if their total gross annual income from these transactions does not exceed CZK 100,000 — roughly $4,100 — and, separately, if they held digital assets for more than three years before the sale.
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