Czech Central Bank Governor Firmly Supports Bitcoin Pilot

CNB’s push for Bitcoin and digital assets

The comment follows the CNB’s launch of a small Bitcoin and digital asset pilot to learn more about blockchain and the future of finance. The program began in November 2025 with a $1 million test portfolio.

According to the previous report, the goal of the test is not to make any major investment but to understand how the assets work and how they could affect the traditional payment system and reverse management. The project is being done through its special innovation unit called CNB Lab, with a test portfolio including Bitcoin, USD stablecoins, and USD tokenized deposits.

Previously, the bank said Bitcoin was bought on a regulated exchange, and the process took about three weeks because of strict KYC and AML checks. The pilot will test different ways of buying and storing these assets safely. It is also studying how blockchain works in real situations, including key security, approval steps, crisis handling, and compliance rules. The CNB expects a full review of the pilot in the next two to three years.

Michl’s view on Bitcoin 

This is not the first time Governor Michl has been pushing for the adoption of Bitcoin. Last year, he said Bitcoin could be useful for diversifying the bank’s reserves.

“For the diversification of our assets, bitcoin seems good,” he said, adding that it has “zero correlation to bonds” and could be worth considering for a large portfolio. However, he stressed that careful study was still needed before taking any real step in investing.

In another detailed statement, Michl warned that crypto investing is not for everyone. He advised people to be extremely cautious and only invest in things they truly understand. He compared today’s crypto market to the early investment boom in the Czech Republic during the 1990s, when many funds appeared and later collapsed. He explained that the crypto space will likely see both big successes and painful failures.

Michl also made it clear that Bitcoin is highly risky because of its sharp price swings. He said Bitcoin could end up having two extreme outcomes, either becoming very valuable or dropping to zero. Still, he believes central bankers should study it closely instead of ignoring it. “Studying bitcoin won’t harm us – on the contrary, it will strengthen us,” he noted.

CNB flags risks alongside pilot program

The Czech National Bank has recently shared research suggesting Bitcoin could improve returns in some cases. According to CNB backtests, if the bank had held 5% of its reserves in Bitcoin over the past decade, yearly returns could have risen by about 3.5 percentage points. However, volatility would have doubled, showing how unstable such an asset can be.

The CNB also warned citizens about financial dangers. In a recent public notice, the bank urged people to stay alert to fraudsters, online scams, hidden fees, and fake crypto promotions. It also reminded investors not to rely on advice from influencers who may not have their best interests in mind.

“Always remember to verify the identity of the other party. We regularly issue warnings about entities that show signs of fraud or do not hold the appropriate authorisation from the CNB,” the bank said.

For now, the Bitcoin test remains small, controlled, and focused on learning. The bank says the pilot is meant to gain real experience with blockchain processes, while the final evaluation will take place over the next two to three years.

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Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.