The National Bank of Poland has rejected the possibility of inclusion of bitcoin in its currency reserves citing significant security concerns.
NBP President and Monetary Policy Council President Adam Glapiski recently emphasized the need for full security in the property reserved during a press conference, According Warsaw for Business Journal.
He said, “We will not consider bitcoin under any circumstances, because the store should be absolutely safe.”
Currently, NBP’s reserves are mainly held in gold, US dollars and euros, playing a minor role with other assets.
Glapiński highlighted the strategic time of Poland’s gold acquisition, given that their value increased significantly among global economic uncertainties. He pointed to Bitcoin (BTC) to a well -written instability and unpredictability, as as the primary causes of excluding its exclusion from the nation’s store.
Caution of NBP towards bitcoin
The cautious stance of NBP on bitcoin aligns with its historical status. One in 2017 statementThe NBP and the Financial Supervision Authority warned of risks associated with virtual currencies, including potential losses, guarantee deficiency, and high value volatility.
He reiterated that virtual currencies are neither issued nor guaranteed by the central bank and do not meet the norms of legal tender.
