Czech Republic president Petr Pavel has abolished capital gains tax on Bitcoin held for 3+ years.
Beaver Bullets:
- The Czech Republic recently eliminated capital gains tax on Bitcoin held for over three years, effective mid-2025.
- Meanwhile the Czech central bank is looking into establishing a Bitcoin reserve.
- In Utah, lawmakers passed a bill allowing the state treasurer to invest up to 10% of certain funds into Bitcoin.
Czech Republic Eliminates Capital Gains Tax on Bitcoin
The Bitcoin capital of Europe has made headlines by officially eliminating capital gains tax on Bitcoin held for over three years, a move effective from mid-2025.
This landmark decision, signed into law by President Petr Pavel, aligns the country’s Bitcoin regulations with the EU’s Markets in Crypto-Assets (MiCA) framework, aiming to foster long-term investment.
This reform positions the Czech Republic as a very Bitcoin-friendly hub, potentially attracting entrepreneurs, Bitcoin businesses and investors.
“This is pretty wild. Czech Rep recently abolished the capital gains tax on bitcoin held for 3+ years, and now the central bank governor proposed building up a bitcoin reserve with up to 5% of its balance sheet.”
The news was widely celebrated by Bitcoiners on X, with many claiming they would rather see capital gains tax reduced than have their country establish a strategic reserve.
On the reserve side, the Czech central bank has just approved a proposal to study Bitcoin as a reserve asset.
Michael Saylor’s MicroStrategy has rebranded to “Strategy.”
I mean, it’s only fitting. With its stock value up 2000% over the last five years, and its market capitalization at $82 billion, Michael Saylor’s bitcoin treasury company is hardly “micro” anymore.
After announcing the rebrand last Thursday, everybody has been making the same joke, referencing the 2010 movie “The Social Network,” when Justin Timberlake’s character, Sean Parker, tells Mark Zuckerberg to change his website’s name from “The Facebook” to “Facebook.”
The company’s logo has also changed to the word “Strategy” with a Bitcoin ₿ next to it as if it were an exponent. With this ₿ as a hint, some suspect that MicroStrategy is currently “bridging” its brand, which will end up as “Strategy Bank.”
Saylor has already prided himself on aiming to launch a “trillion dollar bitcoin bank,” with MicroStrategy launching various financial products centered around bitcoin exposure.
Utah House Passes Bitcoin Reserve Bill
The State of Utah passed House Bill 230 this week, nicknamed the “Strategic Bitcoin Reserve” bill, through the House of Representatives with a vote of 38-34.
This legislation allows the state treasurer to invest up to 10% of several state accounts, including disaster recovery and Medicaid growth funds, into Bitcoin and other qualifying digital assets.
Much like the recent controversy surrounding a “Strategic Digital Asset Stockpile” at the federal level, some were concerned that the bill’s inclusive language could mean the state’s stockpile is diluted with other, non-bitcoin assets.
However, the bill, introduced by Representative Jordan Teuscher, stipulates that digital assets must have a market cap exceeding $500 billion or be approved stablecoins, with strict security measures for custody. That makes bitcoin the only viable candidate right now, as no other crypto has a market capitalization of that size.
“We intentionally draft it this way because it DRAMATICALLY increases the odds the bill will become law,” said Satoshi Action Fund’s Dennis Porter – a key player in pushing such legislation throughout the United States.
As of February 5, 22 U.S. States have already introduced bitcoin reserve legislation.
Montreal Man Sentenced to Over 3 Years In Prison for Laundering Bitcoin
A court announced Thursday that Firoz Patel, a fifty-year-old man from Montreal, pled guilty to laundering bitcoin instead of complying with a court-ordered forfeiture.
Patel was initially convicted in 2020 for running an unlicensed money-transmitting business. The order has forced him to forfeit 450 BTC – now worth CAD $61 million – and he’s been handed three years of supervised release and a $24 million forfeiture judgement.
The funds are now frozen at a UK exchange, despite his attempt to hide the assets for years.
Stay humble,
Andrew
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