NBP President Adam Glapiński said that he does not plan to create reserves based on cryptocurrencies. However, he added that you can earn a lot from such an investment. He also talked about the gold held by our central bank.
Adam Glapiński talks about Polish gold
Glapiński, in a conversation with the media during Thursday’s conference, said that Polish gold is located in New York, London and Warsaw. He added that bullion stored in foreign vaults is regularly inspected. NBP employees check whether states agree with the entries in the reports.
Our people from the National Bank of Poland, experts, regularly go to New York and London, take bars in their hands and check the material. I will push for one third to be with us. Maybe the bank, when I still have a term, will decide to make it more
– he said.
We also learned that bringing the precious metal to Poland is “technically difficult because gold is bought in London.”
Will NBP buy cryptocurrencies?
Since gold is difficult to transport, it may be worth diversifying NBP assets and investing in cryptocurrencies. Glapiński was also asked by the media about such an investment. The head of the central bank says we have nothing to count on.
We will not do any experiment. Of course Cryptocurrencies offer the possibility of high profits. Everyone individually can make such risky decisions, but central banks are not about risk, they are not about profits, they are about stability and security
– he concluded.
Earlier this year Gazeta Prawna decided to ask the National Bank of Poland whether it plans to purchase bitcoins. Then Adam Glapiński and his colleagues replied that they did not intend to buy BTC due to… too low liquidity on the market. This argument was already surprising.
In turn, in September, the president of the NBP announced that the bank he manages decided to increase the share of gold in reserve assets – this time to 30%.
NBP gold resources currently exceed 520 tons. They are worth approximately PLN 240 billion, or 25% of all reserves.
