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Czech National Bank (CNB) Governor Aleš Michl has proposed studying Bitcoin as a potential reserve asset. While warning about the risks of crypto investments, he emphasized that Bitcoin is distinct from other digital assets and should not be dismissed. He believes that understanding Bitcoin’s underlying technology can strengthen financial institutions rather than harm them.
The CNB Bank Board approved an initial proposal to analyze the feasibility of creating a Bitcoin test portfolio. Michl highlighted Bitcoin’s volatility, acknowledging that its value could either skyrocket or drop to zero. He stressed that Bitcoin remains a high-risk asset suitable for professional investors aware of its potential risks and rewards.
A final decision will depend on the results of the study and further discussions within the Bank Board. No immediate changes will be made, but this step signals the Czech Republic’s openness to exploring Bitcoin as part of its financial strategy.
