Poland's Central Bank Rejects Bitcoin As Reserve Asset

According to BlockBeats, on February 11, Adam Glapiński, the President of the National Bank of Poland (NBP), stated that the central bank will not consider including Bitcoin in its reserves "under any circumstances." During a press conference, Glapiński emphasized that the NBP would only consider assets that are "absolutely safe" for its reserves. Glapiński compared Bitcoin to gold, highlighting gold's stability in value, which contributed to a 22% increase in the bank's reserves last year. While he did not completely dismiss the value of cryptocurrencies, he noted, "There is much to discuss about Bitcoin." However, he stressed that the NBP does not view Bitcoin as a "long-term, safe component" of its reserves. "You can buy a lot and earn a lot, but you can also lose heavily," he added. "We prefer to choose assets with certainty." This cautious stance is not surprising, especially for organizations advocating for central banks to hold BTC reserves. Matthew Pines, a national security researcher at the Bitcoin Policy Institute, commented that central banks are inherently conservative institutions. "The legal functions of central banks are usually very limited, primarily maintaining price stability, full employment, and financial stability," he said. "Moreover, central banks generally view currency as a core aspect of national sovereignty and strictly control the monopoly on legal currency issuance granted to them by the state."