11.02.2025 17:12
The President of the National Bank of Poland, Adam Glapiński, stated that Bitcoin will not be included in the bank's reserves. Emphasizing security and stability in comparisons with gold, Glapiński's stance represents a different approach compared to that of the Czech National Bank.
The President of the National Bank of Poland, Adam Glapinski, announced that the bank will not hold Bitcoin reserves "under any circumstances." In comparative assessments with gold, Glapinski emphasized security and stability, showcasing his cautious stance towards cryptocurrencies. This statement came shortly after the Czech National Bank began evaluating Bitcoin investments.
Bitcoin Policies Diverging Between Europe and the US
Poland's Central Bank President Adam Glapinski announced that the institution will not include Bitcoin in its reserve policy. Emphasizing that central bank reserves are managed based on security and stability, Glapinski stated that they prioritize the criterion of "absolute security" in asset selection.
Referring to gold investments that provided a 22% increase in value in bank reserves last year, the President made a comparison between Bitcoin and traditional investment instruments. Glapinski expressed that despite the high return potential of the cryptocurrency, due to the risk factors it carries, it cannot be a "sustainable and reliable component" in the central bank's portfolio.
This statement came after the Czech National Bank accepted a proposal to evaluate Bitcoin investments. However, Czech Finance Minister Zbynek Stanjura opposed this initiative, urging his colleagues to be more cautious in their statements on the matter.
European Central Bank President Christine Lagarde also stated that central bank reserves should possess liquidity, security, and safety features, expressing support for Poland's approach.
In the United States, however, the situation is taking a different shape. At the beginning of Donald Trump's presidency, a working group was established to create a Bitcoin reserve, and recently, the proposal for establishing a sovereign wealth fund has come to the agenda. The state of Utah is also among the regions considering the establishment of a Bitcoin reserve.
Matthew Pines, a National Security Researcher at the Bitcoin Policy Institute, stated in a statement regarding the issue that central banks tend to exhibit a conservative attitude due to their structures and have limited maneuverability. Pines also added that the US closely monitors the policies of Gulf and Asian countries that consider Bitcoin a national asset.