NBP Dismisses Bitcoin, Favors Gold Reserves
The National Bank of Poland (NBP) has firmly ruled out holding Bitcoin in its reserves, stating that “an asset must be absolutely secure” to qualify. NBP President Adam Glapiński emphasized that the bank prefers gold, which increased Poland’s reserves by 22% in 2024.
His stance contrasts sharply with other central banks exploring Bitcoin reserves, including:
- Czech National Bank, which is studying a $7 billion Bitcoin reserve strategy.
- Several U.S. states, where legislation for state-backed Bitcoin reserves is under consideration.
- El Salvador, which already holds Bitcoin as part of its national treasury strategy.
Geopolitical and Economic Factors
Glapiński’s remarks reflect a broader European skepticism toward Bitcoin as a reserve asset, aligning with ECB President Christine Lagarde’s recent comments that reserves should be “liquid, secure, and stable”.
However, the U.S. is taking a different approach, with President Donald Trump forming a task force to explore Bitcoin reserves. If major economies like the U.S. or Gulf nations adopt Bitcoin as a strategic asset, it could shift global sentiment and challenge Europe’s conservative stance.
