Poland’s Central Bank President Rules Out Bitcoin Reserves, Preferring Stability Over Cryptocurrency Volatility

The President of the National Bank of Poland, Adam Glapiński, confirmed on February 11th that the bank will not entertain the notion of incorporating Bitcoin into its reserves. During a recent press conference, Glapiński articulated that the NBP would only contemplate such a move if the cryptocurrency is deemed “absolutely safe.” Comparing Bitcoin to more traditional assets like gold, he remarked that gold has proven to be more stable, contributing to a notable 22% growth in the bank’s reserves over the past year.

Despite his reservations about Bitcoin, Glapiński acknowledged the potential merits of cryptocurrencies, stating, “There are many aspects of Bitcoin worth discussing.” However, he reiterated the NBP’s stance that Bitcoin does not qualify as a long-term, reliable component for reserves, highlighting the volatile nature of the digital asset: “You can buy a lot, you can also earn a lot, but you can also lose a lot,” he noted. His cautious perspective is consistent with the conservative nature of central banks, which focus on maintaining financial stability.