National Bank of Poland Rejects Bitcoin for Reserves, Sticking to Traditional Safe-Haven Assets

In a clear signal to the global financial markets, the National Bank of Poland (NBP) has officially confirmed that it has no intention of adding Bitcoin or other cryptocurrencies to its national reserves. The central bank's decision highlights its commitment to financial stability and risk management, favoring traditional assets like gold, the U.S. dollar, and the euro.

🚫 NBP's Stance: Bitcoin Too Risky

In a public statement issued by the NBP's Monetary Policy Council, officials emphasized that while digital assets like Bitcoin (BTC) continue to attract global attention, their volatility, security concerns, and lack of intrinsic value make them unsuitable for reserve holdings.

“Bitcoin does not meet the standards of a stable, liquid, and secure asset class appropriate for national reserves,” the NBP noted.

This announcement comes amid growing discussions in other countries about diversifying reserve portfolios with digital assets. Nations like El Salvador and the Central African Republic have embraced Bitcoin, but NBP stands firmly in opposition, citing the need for predictability and minimal exposure to speculative markets.

🏦 Traditional Reserve Strategy

Poland’s reserve policy remains conservative, prioritizing stability and liquidity. As of Q1 2025, the NBP holds a diversified portfolio primarily composed of:

• Gold (approx. 11% of reserves)
• U.S. Dollar-denominated assets
• Euro-denominated securities
• IMF Special Drawing Rights (SDRs)

This strategy has helped Poland weather economic challenges, including inflationary pressure in recent years and currency fluctuations.

🔍 Expert Reactions

Financial analysts have largely supported the NBP’s decision. According to Adam Kowalski, a senior economist at Warsaw School of Economics:

“Bitcoin is not yet a mature financial asset. Its extreme price volatility makes it an unreliable store of value—especially for central banks tasked with protecting national wealth.”

Cryptocurrency advocates, however, argue that the decision reflects a missed opportunity for diversification and hedging against fiat currency risks, particularly amid growing global debt and de-dollarization trends.

🌍 Regional Context: Eastern Europe’s Crypto Divide

Poland’s stance contrasts with more crypto-enthusiastic countries in Eastern Europe. For instance, Ukraine has embraced crypto adoption, especially for fundraising during the war. Meanwhile, the Czech Republic and Hungary remain cautious but are exploring central bank digital currencies (CBDCs).

NBP has shown interest in CBDCs as part of a long-term strategy but remains wary of decentralized cryptocurrencies like Bitcoin.

🔗 Conclusion: Stability Over Speculation

The National Bank of Poland’s decision to reject Bitcoin for its reserves reinforces its image as a prudent, stability-focused institution. While the crypto world continues to evolve, Poland is choosing tradition over innovation—for now.

For investors and crypto enthusiasts watching global adoption trends, this move sends a clear message: not all central banks are ready to embrace the decentralized future.

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