Despite the growing global interest in digital currencies, the National Bank of Poland (NBP) has made it clear that Bitcoin will have no place in its currency reserves. Citing serious security concerns, NBP President and Monetary Policy Council Chairman Adam Glapiński reaffirmed the bank’s commitment to traditional, stable assets.
Speaking at a recent press conference, Glapiński left no room for speculation about Bitcoin’s potential inclusion in Poland’s reserves. “We will not consider Bitcoin under any circumstances, as reserves must be absolutely secure,” he stated, according to the Warsaw Business Journal.
Currently, Poland’s reserves are primarily held in gold, U.S. dollars, and euros, with other assets playing only a minor role. Glapiński emphasized the strategic timing of Poland’s gold acquisitions, highlighting how their value has increased amid global economic uncertainties.
JUST IN: The National Bank of Poland stated that it will not hold #Bitcoin in its reserves under any circumstances.
The regulator’s chief emphasized that $BTC does not meet security criteria.
— Jacob King (@JacobKinge) February 7, 2025
One of the central reasons for the NBP’s rejection of Bitcoin is its well-documented volatility. The unpredictable nature of the cryptocurrency market makes Bitcoin an unsuitable choice for a nation’s financial reserves, which require long-term stability and reliability.
Poland’s cautious stance on Bitcoin isn’t new. Back in 2017, the NBP and the Financial Supervision Authority issued a warning about the risks associated with virtual currencies. Their concerns included the potential for theft, the absence of guarantees, and extreme price fluctuations.
They also reiterated that Bitcoin and similar cryptocurrencies are neither issued nor backed by the central bank and do not meet the criteria for legal tender.
While some countries explore the idea of incorporating digital assets into their financial strategies, Poland remains firm in its decision to stick with traditional, time-tested reserves. The focus on gold and strong fiat currencies reflects the NBP’s priority of maintaining security and stability in an unpredictable global economy.
For now, at least, Bitcoin has no place in Poland’s reserves—and according to the NBP, that’s not about to change anytime soon.