Polish Central Bank Chooses 'Lose a Lot' Strategy by Avoiding Bitcoin
In what could be described as the financial equivalent of refusing to leave the house because it might rain, the National Bank of Poland (NBP) has declared it will not consider holding Bitcoin reserves "under any circumstances." NBP President Adam Glapiński showcased his mastery of risk assessment with the profound observation that "You can buy a lot and gain a lot, as well as lose a lot," before wisely concluding that they "prefer something certain" – like certainly missing out on potential opportunities.
While their neighbors at the Czech Central Bank daringly consider a $7 billion Bitcoin reserve study, Poland's central bank has perfected the art of certainty: if you never try anything new, you'll never make mistakes. This groundbreaking strategy ensures they'll never have to worry about those pesky "gain a lot" scenarios that keep other central banks up at night.
While discussing the Czech Republic, it's worth noting that on February 6, 2025, President Petr Pavel signed a comprehensive digital finance law. This legislation eliminates capital gains tax on Bitcoin and other crypto assets held for more than three years. Moreover, the Czech National Bank (CNB) under Aleš Michl is considering plans to convert up to 5% of its reserves (approximately €140 billion) into Bitcoin.
Glapiński did proudly point to their gold reserves, which increased by 22% last year – a perfectly acceptable gain, apparently, unlike those scary Bitcoin gains that might be too much for their conservative tastes. The central bank's strategy seems clear: moderate gains good, potential large gains suspicious.
The NBP's position aligns perfectly with traditional banking wisdom: never do today what you can indefinitely postpone until tomorrow. While 15 of US states review legislation for Bitcoin reserves, Poland has chosen the path of absolute certainty – certain to watch from the sidelines as the digital finance revolution unfolds.
Meanwhile, as other nations debate the merits of cryptocurrency reserves, Poland's central bank remains committed to its "lose nothing by gaining nothing" philosophy. At least they can be certain about one thing: they won't have to worry about explaining any Bitcoin gains to their shareholders.
