Bitget CEO: The Czech Republic may establish Bitcoin foreign exchange reserves, becoming the third largest Bitcoin holding country in the world

In response to the event where "the Governor of the Czech Central Bank proposed for the first time to include Bitcoin in foreign exchange reserves and the President of Czech signed a new law stating that holding Bitcoin for more than three years can be exempted from capital gains tax", Bitget CEO Gracy Chen posted on X platform: If the proposal is passed, the Czech Central Bank may invest 5% of its €140 billion reserve in Bitcoin (€7 billion, approximately 75,000 BTC), potentially making it the third largest holder of Bitcoin globally, only behind USA and China but ahead of UK and Ukraine. The exemption from taxes for holdings over three years will encourage businesses and individuals to hold BTC long-term. Although opposed by European Central Bank (ECB), Czech has an independent monetary policy not restricted by ECB; if this policy proves effective other European countries might follow suit.

Furthermore, she stated that Czech has highest density of Bitcoin ATMs across Europe with Eastern Europe's most active crypto community along with a friendly regulatory environment which makes it a hub for crypto innovation in Europe.