Catenaa, Wednesday, January 15, 2025 – Czech National Bank (CNB) Governor Aleš Michl has publicly considered the possibility of adding Bitcoin to the bank’s foreign exchange reserves.
During an interview on January 6, 2025, Michl acknowledged the potential of Bitcoin as a strategic asset, though he emphasized that any such move would require careful consideration and approval from the bank’s board.
He added that the new consideration would strengthen the foreign exchange reserves since the growing interest of the government towards crypto utility is increasing.
The approval of the board of CNB, which is comprised of seven members, is essential to diversifying the bank’s crypto portfolio.
The observations and considerations for bitcoin investment are currently ongoing while it is expected to execute the initiative in the future.
The CNB expects to invest in bitcoin a little, whereas the gold purchase will be a massive investment, a report said.
Nevertheless, Janis Aliapulios, an advisor to the board, said that despite the BTC investment, the bank is about to purchase gold to level up its total gold assets.
Earlier in 2022, Michl positively commented on the questions relating to cryptocurrency asked by the team of CNB students.
Similarly, the US is undertaking to get an approval for the Bitcoin Act, which proposes creating a bitcoin reserve.
The Czech Republic passed a law approving an exemption for income from crypto transfers with effect on January 1, 2025.
