While countries like the U.S., Germany, and the Czech Republic explore adding Bitcoin to their national reserves, Poland is taking a different path. The National Bank of Poland (NBP) has made its stance crystal clear – Bitcoin has no place in the country’s financial strategy.
NBP President Adam Glapiński isn’t mincing words. He believes Bitcoin is far too risky and unstable to be considered a reliable asset.
But as global interest in Bitcoin grows, could Poland’s decision hold up in the long run? Here’s what you need to know.
At a recent press conference, NBP President Adam Glapiński made it clear that Bitcoin will not be part of Poland’s financial strategy. He stressed that the country’s reserves must be “absolutely secure,” and Bitcoin does not meet that requirement.
“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 holding traditional assets like gold, U.S. dollars, and euros to ensure financial stability.
Even without Bitcoin, Poland’s reserves are growing. According to NBP data, the country’s reserve assets have reached EUR 214.19 billion, up 22.1% from last year. This increase reflects Poland’s cautious approach to financial management in an unpredictable global economy.
Despite the NBP’s strong rejection, Poland’s stance on Bitcoin could shift after the upcoming presidential While the NBP is against Bitcoin, the country’s stance could shift after the presidential elections in May 2025.
One candidate, Sławomir Mentzen, has voiced strong support for cryptocurrencies. He wants to turn Poland into a “cryptocurrency haven,” and if elected, his administration could push for a different approach to digital assets.
Poland is not alone in rejecting Bitcoin as a reserve asset. European Central Bank (ECB) President Christine Lagarde has also dismissed the idea, arguing that reserves must be liquid, secure, and free from risks tied to illicit activities – criteria Bitcoin fails to meet in the ECB’s view.
However, other countries are moving in the opposite direction. Germany, the Czech Republic, and Hong Kong are exploring Bitcoin for their reserves. El Salvador has already made Bitcoin legal tender, and Bhutan holds Bitcoin as part of its national reserves.
While Poland and the ECB remain skeptical, the U.S. is showing more interest in Bitcoin reserves. Several states have proposed a Bitcoin Reserve Fund, and former President Donald Trump signed an Executive Order to create a national digital assets stockpile – showing a clear divide in global crypto policies.
As Bitcoin gains ground worldwide, Poland stands its ground. Time will tell who made the right call.
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