National Bank of Poland Rejects Bitcoin for Reserves, Strengthens Gold Holdings
The National Bank of Poland (NBP) has firmly ruled out the inclusion of Bitcoin in its official reserves.
| Key Takeaways: – The National Bank of Poland ruled out Bitcoin due to concerns over security, volatility, and lack of central backing. – NBP prioritizes stability, increasing gold reserves and maintaining assets like U.S. dollars and euros. |
National Bank of Poland President Adam Glapiński emphasized that reserve assets must be fully secure and reliable, while Bitcoin is unsuitable due to its volatility and lack of central backing.
Speaking at a recent press conference, Glapiński stated, “We will not consider Bitcoin under any circumstances, as reserves must be absolutely secure.” He reaffirmed that Poland’s financial strategy prioritizes stability, favouring traditional assets such as gold, U.S. dollars, and euros.
Poland’s approach to reserves has long been centred on tangible assets, particularly gold, which has gained value amid global economic uncertainty. Glapiński noted that Poland had strategically increased its gold reserves at an opportune time.
As of January 2025, Poland’s official reserve assets reached $225.4 billion. Bitcoin’s exclusion is consistent with the NBP’s longstanding scepticism toward cryptocurrencies. The bank first issued warnings in 2017 for crypto investment with risks such as theft, lack of guarantees, and extreme price fluctuations. It maintains that cryptocurrencies are not backed by any central authority and do not qualify as legal tender.
Poland’s stance also mirrors the broader European approach to digital assets in central bank reserves. On January 30, European Central Bank (ECB) President Christine Lagarde reiterated that Bitcoin would not be included in ECB reserves.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
