Zinger Key Points
- Poland sees Bitcoin as too risky for reserves, contrasting with Czechia’s study and U.S. efforts to explore digital asset investments.
- While Poland dismisses Bitcoin’s viability as a reserve asset, the U.S. and Czech Republic are actively debating its potential role.
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Poland's central bank has ruled out adding Bitcoin BTC/USD to its reserves, with Governor Adam Glapiński stating that the National Bank of Poland (NBP) will not consider holding the cryptocurrency “under any circumstances.”
What Happened: His comments come as other countries, including the Czech Republic and the United States, explore the possibility of incorporating Bitcoin into their financial systems, Decrypt reported.
During a press briefing, Glapiński emphasized that assets held by the central bank must meet strict security standards, a criterion he claims Bitcoin fails to fulfill.
He pointed to gold as a preferred asset, highlighting its role in increasing Poland's reserve value by 22% last year.
"You can buy a lot and gain a lot, as well as lose a lot," Glapiński stated. "However, we prefer something certain."
While acknowledging Bitcoin's growing presence in financial markets, he rejected the idea of treating it as a stable component of the country's reserves.
Also Read: Ethereum Has A Key Strength That XRP, Solana Don’t Have, Expert Says
Why It Matters: Despite Poland's opposition, Bitcoin is gaining traction in other parts of the world.
Just a week before Glapiński's remarks, the Czech Central Bank approved an initiative to assess the feasibility of adding Bitcoin to its reserves.
However, the proposal has faced political resistance, with Czech Finance Minister Zbyněk Stanjura publicly expressing doubts and advising policymakers to avoid speculative discussions.
To counter concerns, Czech Central Bank Deputy Governor Eva Zamrazilová clarified that the study will examine various asset classes, not just Bitcoin.
She also denied previous reports suggesting the bank was considering allocating up to 5% of its reserves to the cryptocurrency.
"Such a proposal has never been discussed by the Bank Board," she stated.
Meanwhile, the debate over Bitcoin's role in national reserves is intensifying in the United States.
Shortly after taking office, President Donald Trump formed a working group to explore the possibility of a Bitcoin reserve.
Additionally, discussions around launching a sovereign wealth fund that includes digital assets have gained momentum. Several U.S. states, including Utah, are actively reviewing legislation that would allow them to hold Bitcoin as part of their financial portfolios.
The European Central Bank (ECB) has also expressed skepticism about Bitcoin as a reserve asset.
ECB President Christine Lagarde recently reinforced concerns similar to those raised by Poland's central bank, arguing that central bank reserves must be liquid and secure.
"There is a view around the table of the governing council […] that reserves have to be liquid, that reserves have to be secure, that they have to be safe," Lagarde stated.
Despite opposition from Poland and the ECB, the fact that Bitcoin reserves are now being seriously discussed by financial institutions and governments signals a shift in the global financial landscape.
While Poland has shut the door on Bitcoin, other countries are actively assessing its potential role in national reserves.
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