The Governor of the Czech National Bank, Aleš Michl, revealed the bank is considering Bitcoin for its reserve diversification strategy.
Bitcoin as Part of Diversification
In an interview with CNN Prima News, Michl emphasized the importance of diversifying reserves through stocks, bonds, gold, and cash deposits. Although the plan is to add only a small amount of Bitcoin, the focus remains on gold reserves, which aim to reach 100 tons in four years.
Analysis and Future Prospects
Michl noted that the discussion on adding Bitcoin to the bank's roadmap is ongoing among the seven board members of the Czech National Bank. He has previously spoken positively about Bitcoin, emphasizing the importance of financial literacy and understanding investment risks.
Legislative Changes in Czech Republic
On December 6, 2024, the Czech Republic passed legislation providing income tax exemptions for certain crypto transactions. Exemptions apply when the total annual income from crypto transfers does not exceed CZK 100,000 or assets were held for more than three years.
The consideration of Bitcoin in reserves by the Czech National Bank highlights the growing interest in crypto assets among global financial institutions.
