Czech National Bank (ČNB) Governor Aleš Michl said the central bank is considers the allocation of Bitcoin (BTC) to diversify its reserves during a Jan. 6 interview with CNN Prima News.
Michl revealed this consideration of the ČNB while discussing the importance of diversifying the bank’s assets across stocks, bonds, gold and cash deposits.
He added:
“Bitcoin is a very, very interesting thing, but no one really knows if what we read is true, because none of us have seen the Bitcoin code. If that is the case, then so be it, it is very interesting as a diversification against other assets.”
Moreover, the ČNB was considering adding “just a few” BTC to its reserves. Michl stated that the bank did not intend to invest in it massively and that the gold investments would provide sufficient diversification.
As part of its currency diversification plan, the Czech National Bank plans 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 ČNB education team to a Czech primary school.
After being introduced to financial concepts, the students shared questions about investments, including whether Bitcoin could be the currency of the future.
He replied:
“Bitcoin is an interesting concept, but before buying any investment we should always consider the worst-case scenario for our money. It’s important to understand the basics and how to find essential information. Just spend less time on Netflix and a little more time learning. It’s not rocket science.”
Particularly the Czech Republic approved legislation granting exemptions for income from crypto transfers on December 6, 2024.
Individuals can claim an exemption if their total gross annual income from these transactions does not exceed 100,000 CZK – approximately $4,100 – and, separately, if they owned digital assets for more than three years before the sale.
