Czech Bank Rejects Bitcoin Reserves Over 'Go to Zero' Volatility Despite Pilot Wins

Czech National Bank deems Bitcoin too risky for its $180 billion official reserves due to extreme volatility and potential to 'go to zero,' Governor Aleš Michl warned at Bitcoin 2026, despite a $1 million pilot and February study showing 1% allocation boosts returns via low correlation. The developing story started April 28 with Michl backing a conservative 1% slice in reserves (44% of Czech GDP), alongside equities rising to 26% and gold to 6%. April 29 updates confirmed a two-year test portfolio but reiterated February board rejection over downside risks.