While countries like the United States, Germany and the Czech Republic explore the addition of bitcoin to their national reserves, the Central Bank of Poland firmly rejected the idea. The president of the National Bank of Poland (NBP), Adam Glapiński, believes that Bitcoin is too risky and unstable, therefore “we will in no case consider Bitcoin”, to be part of his financial strategy.
NBP rejects the plan of Bitcoin reserves
During a recent press conference, the president of the NBP, Adam Glapiński, confirmed that the central bank of Poland would not consider Bitcoin as a reserve asset. He noted that the reserves of Poland should be “absolutely safe” and that Bitcoin does not meet these standards.
“We will in no case consider Bitcoin,” said Glapiński. “The reserves must be safe, stable and permanent, which Bitcoin is not.”
Instead, Poland will continue to accumulate assets such as gold, US dollars and euros, guaranteeing a more traditional and reliable reserve strategy.
According to NBP data, Poland’s reserve assets reached 214.19 billion euros, marking an increase of 22.1% compared to the previous year. This growth reflects the country’s commitment to financial stability and risk management in an unpredictable global economy.
Could Poland change its position?
Despite the high rejection of the NBP, the position of Poland on Bitcoin could change after the next presidential elections in May 2025.
A candidate, Sławomir Mentzen, expressed pro-Crypto opinions and aims to make Poland a “cryptocurrency paradise”. If it is elected, his administration could put pressure for a different approach to digital assets.
The ECB also rejects bitcoin for reserves
Poland is not alone in its decision. The European Central Bank (ECB), led by President Christine Lagarde, also rejected Bitcoin as a reserve asset plan. Lagarde said the reserves must be liquid, secure and without risks linked to illicit activities – Bitcoin criteria do not meet according to the ECB.
Other nations embracing bitcoin
While Poland and the ECB remain skeptical, other countries like Germany, the Czech Republic and Hong Kong take a different path. El Salvador has already made the legal call for Bitcoin’s legal tenders, while Bhutan also holds Bitcoin in its reserves.
The American government and several states have proposed a Bitcoin reserve fund, President Trump signing a decree to establish a stock of national digital assets.
