Overview
- Czech National Bank Governor Aleš Michl told the Bitcoin 2026 conference in Las Vegas that internal research shows a 1% bitcoin slice can lift expected returns in Czech koruna terms with roughly unchanged overall risk.
- The bank disclosed a hands-on pilot that bought about $1 million in bitcoin inside a test portfolio that also holds a USD stablecoin and a tokenized deposit, which outlets report makes it the first central bank to purchase bitcoin.
- The Bank Board decided in February 2026 not to add bitcoin to official foreign‑exchange reserves, with Michl warning that its price swings are far higher than other assets and could even fall to zero.
- The experiment is set to run for two years, after which the bank plans to publish results and decide on next steps based on measured performance rather than ideology.
- CNB manages about $180 billion in reserves, roughly 44% of GDP, and in recent years raised equities to about 26% and gold to about 6% to boost long-term returns, with the bitcoin test extending that cautious diversification push.