Czech Republic Governor Explores Bitcoin as Reserve Asset
The post Czech Republic Governor Explores Bitcoin as Reserve Asset appeared on BitcoinEthereumNews.com.
The governor of the Czech National Bank, Aleš Michl, has expressed interest in Bitcoin as a potential addition to the country’s foreign exchange reserves. Michl described the idea of acquiring “a few Bitcoin” as a diversification move, though not a significant investment for the bank. Czech Republic Considers Bitcoin a Strategic Foreign Asset The national bank governor expressed this interest recently in an interview with the Czech media. Any decision to include Bitcoin in the reserves would require approval from the bank’s seven-member board. While there are no immediate plans to invest in Bitcoin, Michl indicated that diversification through cryptocurrency could be explored in the future. Recently, the country has seen several pro-crypto initiatives from the government. “The Czech National Bank’s governor says BTC might be the move for diversifying reserves, calling it an interesting option. No official plans yet, but the convo is heating up,” Mario Nawfal wrote on X (formerly Twitter). In December, the Czech Republic announced plans to reform its crypto taxation policies. Prime Minister Petr Fiala outlined a proposal to exempt digital asset sales from capital gains tax if held for over three years. The plan also removes the reporting requirement for transactions under 100,000 koruna annually, equivalent to about $4,200. This would offer significant benefits to long-term holders. “Prague is the bitcoin capital of the world. No capital gains tax on bitcoin has just been passed in The Czech Republic with all members of the parliament voting for it,” Czech-based Bitcoin mining expert Kristian Csepcsar recently wrote on X. In the near term, the Czech National Bank will focus on increasing its gold reserves. The country plans to raise gold holdings to 5% of total assets by 2028, according to recent reports. A Global Race for Bitcoin Reserves Interest in Bitcoin as a reserve asset…
Filed under: News - @ January 8, 2025 12:13 am