Post
First central bank to test $BTC says asset is ‘too risky’ for reserves
The Czech Central Bank purchased $1 million in bitcoin in October to run tests and conduct a study and found it is more efficient than stocks and gold but much too risky.
Czech central bank governor Aleš Michl said adding bitcoin to reserves could improve portfolio performance but stressed its extreme volatility and risk, including the possibility it could go to zero.
A Czech National Bank study found bitcoin’s low long-term correlation with traditional assets can enhance returns without significantly increasing overall risk, likening it to a more liquid form of venture capital.
Despite these potential benefits and a $1 million test portfolio that includes bitcoin, the CNB’s Bank Board decided in February 2026 not to invest the country’s foreign-exchange reserves in bitcoin.
When you add an asset like this, the whole portfolio can work better. Return can go up and risk stays about the same,” he explained, adding that over the long term, “bitcoin can provide returns that are not closely linked to other assets. In some ways it is similar for me to venture capital but it is much more liquid.”
{future}(BTCUSDT)
{future}(TONUSDT)
The Czech Central Bank purchased $1 million in bitcoin in October to run tests and conduct a study and found it is more efficient than stocks and gold but much too risky.
Czech central bank governor Aleš Michl said adding bitcoin to reserves could improve portfolio performance but stressed its extreme volatility and risk, including the possibility it could go to zero.
A Czech National Bank study found bitcoin’s low long-term correlation with traditional assets can enhance returns without significantly increasing overall risk, likening it to a more liquid form of venture capital.
Despite these potential benefits and a $1 million test portfolio that includes bitcoin, the CNB’s Bank Board decided in February 2026 not to invest the country’s foreign-exchange reserves in bitcoin.
When you add an asset like this, the whole portfolio can work better. Return can go up and risk stays about the same,” he explained, adding that over the long term, “bitcoin can provide returns that are not closely linked to other assets. In some ways it is similar for me to venture capital but it is much more liquid.”
{future}(BTCUSDT)
{future}(TONUSDT)
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