Czech National Bank Governor Aleš Michl used a Bitcoin industry stage in Las Vegas to defend a reserve strategy that mixes strict inflation control with measured exposure to digital assets.

 He described the bank’s move to add a small Bitcoin allocation as a way to raise expected returns without increasing overall portfolio risk.

Michl said that when he became governor in mid‑2022, inflation in the Czech Republic was near 20%. He told the audience that the central bank pledged to bring inflation back to 2% within two years and met that goal through discipline, not “magic.” 

He said money had been too cheap for too long, the currency had weakened, and there was too…

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