Czech National Bank Considers Including Bitcoin in Its Reserves
Date: 2025-01-09 Author: Gabriel Deangelo Categories: IN WORLD
“Bitcoin is an exciting instrument, but it is important to consider the worst-case scenarios before investing. None of us have seen the source code of Bitcoin, so it is necessary to understand its principles and know where to look for reliable information,” Michl said.
The head of the regulator clarified that adding Bitcoin to the bank’s strategic reserves is possible, but in a limited amount. The National Bank is not ready for large investments in digital currency, which explains the lack of a developed policy regarding crypto assets.
Michl added that the decision to include Bitcoin would require the approval of the seven-member board. Currently, gold is preferred as a reliable means of diversification. According to Michl, the bank plans to increase its gold reserves to 100 tons over the next four years.
It is worth noting that in December, the Czech parliament approved a law exempting long-term cryptocurrency investors from paying capital gains tax on the sale of bitcoins. This decision may contribute to the further development of the cryptocurrency market in the country.
