Polish Candidate Pledges Bitcoin Reserve Plan

Polish Candidate Pledges Bitcoin Reserve Plan

By Jakub Lazurek

18 Nov 2024 (about 1 hour ago)

2 min read

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Polish presidential candidate Sławomir Mentzen vows to create a Bitcoin reserve if elected, aiming to make Poland more crypto-friendly by 2025.

Polish presidential candidate Sławomir Mentzen has pledged to establish a Bitcoin (BTC) reserve if he wins the 2025 election, aiming to make Poland more crypto-friendly. Mentzen’s promise mirrors similar commitments made by U.S. President-elect Donald Trump during his campaign.

On November 17, Mentzen responded to a query on X (formerly Twitter) from Lech Wilczynski, the CEO of crypto exchange Swap.ly. Wilczynski shared a model policy for a "Strategic Bitcoin Reserve" created by the Satoshi Action Fund, urging Mentzen to consider it. Mentzen confirmed his intention to create such a reserve, stating that Poland should not delay implementing the proposal.

The draft policy calls for establishing a Bitcoin reserve as a hedge against economic instability, a move similar to initiatives in the U.S. and other nations. Wilczynski emphasized that creating a Bitcoin reserve should take priority over passing "nonsense" legislation on crypto assets.

Mentzen, a rising political figure in Poland with significant support from libertarian and right-wing voters, has made crypto advocacy a key part of his campaign. Presidential elections in Poland are scheduled for May 2025, and Mentzen’s pro-crypto stance is expected to resonate with tech-savvy and financial reform-focused voters.

Mentzen’s proposal aligns with similar initiatives in other countries. During his campaign, Trump promised to create a “Strategic Bitcoin Stockpile” for the U.S. Earlier this year, Senator Cynthia Lummis introduced legislation to establish a Bitcoin reserve in the U.S., aiming to acquire one million Bitcoin over five years. The proposal positions Bitcoin as a safeguard against national debt, with plans to hold the reserve for at least two decades.

El Salvador set a precedent by adopting Bitcoin as legal tender in 2021. President Nayib Bukele’s government regularly accumulates Bitcoin, holding 5,748.8 BTC as of now. Similarly, Bhutan has been quietly mining Bitcoin for years, with reports suggesting the Kingdom holds approximately $780 million in digital assets.

Mentzen’s pledge highlights the growing interest in Bitcoin as a strategic financial asset. As more nations explore Bitcoin reserves to hedge against economic challenges, Poland’s potential adoption could signal a broader shift in global attitudes toward cryptocurrencies. Whether Mentzen's promise will sway voters remains to be seen, but it underscores the increasing role of crypto in national politics.

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