The National Bank of Poland has announced that it will not consider holding Bitcoin reserves under any circumstances.
Poland's Rejection of Bitcoin
The President of the National Bank of Poland, Adam Glapiński, reaffirmed that the bank prefers more stable assets than Bitcoin due to its high volatility. He remarked that 'you can earn a lot and lose a lot,' emphasizing the preference for reliable assets.
Traditional Reserve Approach
The National Bank of Poland increased its gold reserves by 22% last year. This aligns with their cautious investment strategy, where moderate but steady gains are preferred over potential but riskier profits.
Varied Approaches by Countries
Contrary to Poland, the National Bank of the Czech Republic is considering investing up to 5% of its reserves in Bitcoin. Recently, Czech President Petr Pavel signed a law exempting long-term crypto holdings from taxes.
The decision by the National Bank of Poland reflects their preference for stability and risk aversion. Meanwhile, other countries are exploring opportunities tied to cryptocurrencies.
