While countries like the United States, Germany and the Czech Republic explore the addition of bitcoin to their national reserves, Poland takes a different path. The National Bank of Poland (NBP) has made its position clear – Bitcoin has no place in the country’s financial strategy.
The president of the NBP, Adam Glapiński, does not include the words. He thinks that Bitcoin is far too risky and unstable to be considered a reliable asset.
But as Bitcoin’s world interest could increase, could Poland’s decision resist in the long term? Here’s what you need to know.
The central bank of Poland called “no” to Bitcoin
At a recent press conference, the president of the NBP, Adam Glapiński, clearly said that Bitcoin would not be part of Poland Financial Strategy. He stressed that the country’s reserves should be “absolutely safe” and that Bitcoin does not meet this requirement.
“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 have traditional assets such as gold, US dollars and euros to ensure financial stability.
Even without Bitcoin, the reserves of Poland increases. According to NBP dataThe country’s reserve assets reached 214.19 billion euros, up 22.1% compared to last year. This increase reflects the prudent approach to the financial management of Poland in an unpredictable world economy.
Could the cryptographic policy of Poland soon change?
Despite the high rejection of the NBP, the position of Poland on Bitcoin could change after the next presidential election while the NBP is against Bitcoin, the position of the country could change after the presidential elections in May 2025.
A candidate, Sławomir Mentzen, expressed strong support for cryptocurrencies. He wants to transform Poland into a “cryptocurrency paradise” and if he was elected, his administration could put pressure for a different approach to digital assets.
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Other nations do not agree
Poland is not the only one to reject Bitcoin as a reserve asset. The president of the European Central Bank (ECB), Christine Lagarde, also rejected the idea, arguing that the reserves must be liquid, secure and exempt from risks linked to illicit activities – the criteria that Bitcoin does not meet the Opinion of the ECB.
However, other countries move in the opposite direction. Germany, the Czech Republic and Hong Kong explore Bitcoin for their reserves. El Salvador has already made a legal bitcoin and Bhutan holds Bitcoin as part of its national reserves.
The United States adopts a different approach
While Poland and the ECB remain skeptical, the United States has manifested more interest in Bitcoin reserves. Several states have proposed a Bitcoin Reserve Fund, and former President Donald Trump signed a decree to create a stock of national digital assets – showing a clear fracture in global cryptography policies.
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While Bitcoin is gaining ground in the world, Poland stands on the ground. Time will say who made the right call.
