Governor Aleš Michl opens up to the idea of buying Bitcoin while the Czech central bank continues to accumulate gold.
The Governor of the Czech National Bank (CNB), Aleš Michl, recently stated to CNN Prima News that he is considering the purchase of “few bitcoins” as a strategy for diversifying the country’s foreign exchange reserves. Michl said:
“Sure, I consider bitcoin, but there are seven of us on the board. Bitcoin is an interesting option for diversification against other assets.”
However, the path to a potential investment still seems challenging: any decision on this matter would need to be approved by the CNB’s board, which consists of seven members.
Janis Aliapulios, an advisor to the board, clarified the official position of the institution:
“CNB is now not considering buying crypto assets for its reserves. However, Governor Michl did not rule out further future debate on this topic.”
In the meantime, the Czech central bank will continue its diversification plan through gold purchases, aiming to increase gold reserves to 5% of total assets by 2028.
Over the past year, Bitcoin has recorded a 131% increase, far outperforming gold, which is up by only 30%. These numbers could justify including Bitcoin in national reserve strategies.
The words of the CNB governor follow the Czech government’s approval of a law that removes capital gains tax on Bitcoin and digital assets held for at least three years.
