Czech Republic Central Bank Explores Bitcoin as Reserve Asset
2025-01-08
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Aleš Michl, Governor of the Czech National Bank (CNB), discussed on Monday the possibility of including Bitcoin in the country’s foreign exchange reserves to diversify its asset holdings.
His remarks reflect a growing government interest in cryptocurrency as a potential savings tool. Michl noted that he had proposed purchasing Bitcoin but clarified that no immediate plans exist for such action.Czech National Bank Governor Explores Bitcoin Acquisition
, Michl revealed that he had contemplated acquiring “a few Bitcoin” to diversify the bank’s holdings. However, he emphasized that this would not constitute a major investment.
“I was thinking of acquiring just a few Bitcoin, but I never intended to make a significant investment,” he said.
Michl emphasized Bitcoin’s appeal as an asset while noting that more deliberation is needed before making any decisions. 
Any decision to purchase Bitcoin would require approval from the CNB’s seven-member board.
Janis Aliapulios, an adviser to the CNB board, clarified that the bank currently has no plans to invest in Bitcoin. However, he did not rule out the possibility of future discussions. 
While Bitcoin remains off the table for now, the bank is focusing on diversifying its reserves through gold purchases. 
According to Aliapulios, the CNB plans to increase its gold holdings to approximately 5% of its total assets by 2028, balancing traditional assets with more volatile options like Bitcoin.
Bitcoin’s 131% price surge over the past year has renewed interest in its viability as a reserve asset. By contrast, gold prices rose 30% during the same period. 
BREAKING: Corporate executives are now selling their stock at record levels, with the ratio of sellers to buyers hitting 6x.Why are insiders cashing out? — The Kobeissi Letter (@KobeissiLetter) 
The Kobeissi Letter reported that Bitcoin’s price growth coincided with a six-to-one ratio of corporate stock sellers to buyers.Czech Government Enacts Bitcoin Tax Exemption
As of January 1, Bitcoin held for over three years is exempt from capital gains tax, following legislation passed by the Czech parliament in December. 
🇨🇿 The Czech Republic approves a capital gains tax exemption for held over 3 years, effective Jan 2025. — Cryptonews.com (@cryptonews) 
, this exemption applies if annual income from cryptocurrency transactions does not exceed CZK 100,000 (approximately $4,000). 
The exemption also includes a retroactive provision, allowing digital assets acquired before 2025 to qualify under specified conditions in future tax years.
 praised the new law on social media, stating that it creates better conditions for cryptocurrencies and supports innovation. 
He added that the exemption will simplify life for citizens and promote the use of modern technologies.
These developments position the Czech Republic among countries exploring cryptocurrency’s role in financial strategies. 
El Salvador made headlines in September 2021 as the first country to introduce an official Bitcoin treasury program. 
Since then, some global leaders, including U.S. politicians, have shown interest in Bitcoin as an investment option.