Poland's Central Bank Chief Skeptical of Bitcoin as Reserve Asset

Bitcoin's acceptance as a reserve asset by central banks remains a contentious issue, with the President of the National Bank of Poland (NBP), Adam Glapiński, recently expressing reservations about incorporating it into the bank's reserves. In a press conference held on February 11th, Glapiński emphasized that the NBP would only consider Bitcoin as a reserve asset if it is deemed "absolutely safe." He compared Bitcoin to traditional assets like gold, noting that gold has demonstrated greater stability and contributed to a significant 22% growth in the bank's reserves over the past year.

While acknowledging the potential benefits of cryptocurrencies, Glapiński reiterated the NBP's stance that Bitcoin does not qualify as a long-term, reliable component for reserves. He highlighted the volatile nature of the digital asset, stating, "You can buy a lot, you can also earn a lot, but you can also lose a lot." This cautious perspective aligns with the conservative nature of central banks, which prioritize maintaining financial stability.