Lucía Peña
The governor of the Czech Central Bank (ČNB), Aleš Michl, recently addressed the potential role of Bitcoin in the bank’s asset diversification strategy. In a conversation with CNN Prima News, Michl disclosed that he had proposed the idea of incorporating Bitcoin into the central bank’s reserves. However, he clarified that there are currently no definitive plans to invest in cryptocurrencies.
“I find Bitcoin intriguing as a diversification tool,” Michl stated. He emphasized that decisions are made collectively by the board, which includes seven members. “While I considered the acquisition of a small amount of BTC, it was never intended to be a major investment,” he added.
The Czech Republic is not alone in exploring cryptocurrency as part of a broader financial strategy. El Salvador, for instance, launched its official BTC treasury program in September 2021. Additionally, politicians and policymakers worldwide, including in the United States, have expressed interest in Bitcoin as a strategic asset.
Meanwhile, Michl highlighted that the ČNB continues to prioritize traditional investments, including plans to increase gold holdings. The central bank aims to raise gold reserves to about 5% of its total assets by 2028, demonstrating a balanced approach to asset management.
New Tax Laws Encourage Long-Term Bitcoin Holding in the Czech Republic
In a significant legislative move, the Czech government has introduced a capital gains tax exemption for long-term BTC holdings. Effective January 1, this law exempts individuals from paying taxes on Bitcoin held for more than three years. The legislation, passed unanimously by the Czech parliament on December 6, is expected to promote long-term investment in digital assets.
Parlamentní Listy, a Czech news outlet, explained that individuals qualify for the exemption if their gross annual income from cryptocurrency transactions does not exceed CZK 100,000 (approximately $4,000). Furthermore, assets must not have been part of business operations for at least three years after self-employment ends.
Prime Minister Petr Fiala voiced his support for the new law in a statement on X (formerly Twitter), emphasizing its role in fostering innovation. “We have worked to create better conditions for cryptocurrencies, making life easier for citizens while supporting modern technology,”
