Poland Central Bank: Will never accept BTC as part of the national reserves, BTC volatility is too high and carries huge unpredictable risks

The President of the National Bank of Poland (CNB), Adam Glapiński, publicly stated on Friday that the Central Bank of Poland will absolutely not consider BTC as a reserve asset because, in the eyes of the NBP, reserves must be "absolutely safe." (Background: The Czech Central Bank considers including BTC in forex reserves, Bitwise CEO: The dominoes have fallen) (Context: The biggest market trigger this year: When will the U.S. government launch a BTC reserve plan?) Since U.S. President Trump proposed establishing a national BTC strategic reserve, several states in the U.S. have introduced bills for BTC strategic reserves, and some countries have shown interest in using BTC as reserve currency. However, many countries still maintain a conservative stance on BTC. According to Business Insider, the President of the National Bank of Poland (NBP), Adam Glapiński, publicly rejected the idea of adding BTC to the national reserves at a press conference yesterday (7th). He stated: The NBP will absolutely not consider BTC as a reserve asset because, in the eyes of the NBP, reserves must be absolutely safe. The Central Bank of Poland is concerned about the Fluctuation risk of BTC: National reserve assets must be absolutely safe. The decision of the Central Bank of Poland is largely due to concerns about the volatility and instability of BTC. Glapiński explained that there are many aspects of BTC worth discussing, but BTC is not a safe reserve asset, citing concerns about its Fluctuation and unpredictability. He also mentioned the risk of Fluctuation in cryptocurrencies: "I don't need to tell you how much BTC has risen, what its value is, it's not a sure thing, everyone must bear the risk themselves. You can buy a lot, earn a lot, but you can also lose a lot. However, the NBP prefers things that are certain." According to the National Bank of Poland, as of the end of January 2025, Poland's official reserve assets amount to 217.1 billion euros (about 225.4 billion U.S. dollars), with a yearly increase of over 22.1%. Will policy change after the May presidential election? Croyto News pointed out that although the Central Bank of Poland currently strongly opposes the idea of including BTC in the national reserves, the upcoming presidential election in May 2025 may lead to a change in the country's policy direction. Sławomir Mentzen, a member of the Alliance Party and a candidate for president, publicly promised that if elected, he would turn Poland into a "Cryptocurrency paradise" and establish a national strategic BTC reserve. However, recent polls show that the Alliance Party (Konfederacja) candidate has only about 12% support, ranking third. BREAKING POLISH PRESIDENTIAL CANDIDATE SŁAWOMIR MENTZEN TO ESTABLISH BITCOIN RESERVE IF ELECTED. MORE COUNTRIES TO BUY BTC pic.twitter.com/1euducLVzf — Ash Crypto (@Ashcryptoreal) November 18, 2024 The Czech Central Bank plans to invest 7 billion euros in purchasing BTC. It is worth mentioning that Glapiński, the President of the Central Bank of Poland, also mentioned that Aleš Michl, the President of the Czech Central Bank, revealed to him the idea of including BTC in the national reserves. The Financial Times reported last month that Michl proposed using up to 5% of the funds (7 billion euros) from the 1,400 billion euros owned by the Czech National Bank to invest in BTC. He stated that at present, BTC is a good choice for diversifying investment portfolios: Trump and others may create new rising space for BTC now, but I believe that even without them, BTC will still show a rising trend because BTC is an alternative investment for more people. Further reading: The Czech Central Bank considers including BTC in forex reserves, Bitwise CEO: The dominoes have fallen European Central Banks continue to reject BTC The movement to establish a BTC strategic reserve in the U.S. has sparked discussions among European Central Banks, but currently, more Central Banks in various countries oppose BTC reserves. On January 30, the President of the European Central Bank, Christine Lagarde, reiterated that BTC will not be included in the reserves of any Central Bank under the European Central Bank Governing Council. Other European Central Banks, including those of Romania and Germany, expressed similar views, considering Cryptocurrency as a high-risk asset. However, several experts, including Matt Hougan, CEO of the asset management company Bitwise, predict that the number of countries considering adopting BTC for investment or reserve purposes will significantly increase this year. The future developments are worth following. Related reports: Trump signs executive order to establish the first sovereign wealth fund in the U.S., paving the way for BTC reserves? U.S. economics professor: Trump establishing BTC reserves could become the biggest pump and dump scam in history Will Japan establish BTC reserves? Prime Minister Shizo Abe: Currently lack sufficient information, safety and Liquidity are top priorities The dream of the BTC kingdom is shattered! El Salvador quietly amends laws to become the world's first country to retract BTC Fiat Currency [Polish Central Bank: Absolutely refuse to accept BTC into national reserves, BTC Fluctuation poses significant unpredictable risks] This article was first published on BlockTempo, the most influential Block Tempo BlockChain news media.