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While countries like the United States, Germany, and the Czech Republic explore adding Bitcoin to their national reserves, Poland’s central bank has firmly rejected the idea. National Bank of Poland (NBP) President Adam Glapiński believes Bitcoin is too risky and unstable so “We will not consider Bitcoin under any circumstances,” to be part of its financial strategy.
NBP Rejects Bitcoin Reserves Plan
During a recent press conference, NBP President Adam Glapiński confirmed that Poland’s central bank will not consider Bitcoin as a reserve asset. He noted that Poland’s reserves must be “absolutely secure,” and Bitcoin does not meet those standards.
“We will not consider Bitcoin under any circumstances,” Glapiński stated. “Reserves must be safe, stable, and permanent, which Bitcoin is not.”
Instead, Poland will continue to accumulate assets like gold, U.S. dollars, and euros, ensuring a more traditional and reliable reserve strategy.
According to NBP data, Poland’s reserve assets have reached EUR 214.19 billion, marking a 22.1% increase from 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 Stance?
Despite the NBP’s strong rejection, Poland’s stance on Bitcoin could shift after the upcoming presidential elections in May 2025.
One candidate, Sławomir Mentzen, has expressed pro-crypto views and aims to make Poland a “cryptocurrency haven.” If elected, his administration might push for a different approach toward digital assets.
ECB Also Rejects Bitcoin for Reserves
Poland is not alone in its decision. The European Central Bank (ECB), led by President Christine Lagarde, has also rejected Bitcoin as a reserve asset plan. Lagarde stated that reserves must be liquid, secure, and free from risks linked to illicit activities—criteria Bitcoin fails to meet in the ECB’s view.
Other Nations Embracing Bitcoin
While Poland and the ECB remain skeptical, other countries like Germany, the Czech Republic, and Hong Kong are taking a different path. El Salvador has already made Bitcoin legal tender, while Bhutan also holds Bitcoin in its reserves.
The U.S. government and several states have proposed a Bitcoin Reserve Fund, with President Trump signing an Executive Order to establish a national digital assets stockpile.