Price of bitcoin could go higher or ‘can go to zero,’ says Czech central bank governor

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. What to know : 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.