Recently, we discussed how the Czech Republic introduced crypto tax benefits and is considering the idea of adding Bitcoin to its national reserves. At that time, we speculated that neighboring countries might also begin considering similar moves. Now, Poland has weighed in on the matter – but its response was clear: the National Bank of Poland (NBP) has no intention of holding Bitcoin as part of its reserves.
Table of Contents
Polish National Bank Dismisses Bitcoin Reserves
During a recent press conference, Adam Glapiński, the head of Poland’s central bank, was asked whether the institution would consider including Bitcoin in its reserves. His answer left no room for speculation: “This is not a real possibility”.
Glapiński acknowledged that Bitcoin has risen to significant valuations, admitting that its price performance has been remarkable. However, he was quick to emphasize that this does not make it a safe investment. According to him, cryptocurrency is very risky – capable of generating high returns, but just as capable of erasing fortunes.
The Polish National Bank, he said, prefers “more certain” investments and must ensure that its reserves are “absolutely safe.” This is why Poland’s reserves are primarily composed of gold, major fiat currencies like the euro and the US dollar, and a small percentage of other assets such as bonds and stocks. Glapiński stressed that Poland’s geopolitical situation requires the central bank to prioritize security and stability in its holdings. In his view, Bitcoin does not meet that standard.
No Bitcoin Reserve for Poland – At Least for Now
Given Glapiński’s strong stance, it seems unlikely that Poland will follow in the footsteps of El Salvador, which made Bitcoin legal tender and began accumulating it as a reserve asset. Nor does it appear that Poland will consider a strategy like the Czech Republic’s, which is at least discussing Bitcoin reserves as part of its financial planning.
That said, the idea of a national Bitcoin reserve is not entirely absent from Poland’s political scene. Back in November 2024, presidential candidate Sławomir Mentzen proposed creating a Strategic Bitcoin Reserve as part of his campaign platform.
Mentzen, who holds over 30 Bitcoins and numerous other cryptocurrencies, has been vocal about his belief that Poland should embrace digital assets. His vision includes low taxes on crypto transactions, banking policies that welcome digital currencies, and a broader effort to make Poland a “cryptocurrency harbor”. While his chances of winning remain rather low – polls currently place him third with around 12% of the vote – his candidacy demonstrates that there is at least some political will to bring Bitcoin into Poland’s financial system.
Poland’s Growing Crypto Scene
Despite the central bank’s firm rejection of Bitcoin as a reserve asset, Poland is far from hostile to cryptocurrency. The country has one of the fastest-growing crypto user bases in Europe. Estimates suggest that over 12% of Poland’s adult population owns some form of cryptocurrency, a significant figure that indicates growing mainstream adoption.
Poland has also surpassed El Salvador in the number of Bitcoin ATMs, which shows both increasing demand and a growing infrastructure to support crypto transactions. The presence of major crypto exchanges, blockchain startups, and fintech firms in the country further highlights the expanding role of digital assets in the economy.
Could Poland Change Its Mind?
For now, Poland’s central bank is holding firm on its traditional investment strategy. But that does not mean the discussion around Bitcoin reserves is over for good. If Bitcoin continues to gain traction as a legitimate asset class, or if more European nations begin incorporating it into their financial strategies, pressure could mount for Poland to reconsider.
There is also the question of political change. If a leader with a more pro-crypto stance were to gain influence, the conversation about Bitcoin reserves might return. While Glapiński’s stance is clear today, history has shown that central bank policies can shift over time – especially when market forces and political interests align.
Need a quick and easy way to see what’s happening in crypto over the next few days? Check out our Crypto Events Calendar!
