Polish Presidential Candidate Promises to Create Strategic Bitcoin Reserve If Elected
Key takeaways
- Slawomir Mentzen, a Polish presidential candidate, pledged support for crypto.
- Mentzen announced plans to create a strategic Bitcoin reserve in Poland if elected in 2025.
- He promised to make the country a haven for cryptocurrency, with friendly and supportive regulation and low taxes.
Slawomir Mentzen Vows to Make Poland a Crypto HavenBitcoin is gaining attention in Polish politics following the election of pro-crypto Donald Trump in the United States.
In an X statement, a presidential candidate in Poland, Slawomir Mentzen, emphasized his pro-crypto stance should he become elected as president. Mentzen promised to create a strategic bitcoin reserve and make Poland a crypto haven if he becomes president.
The Polish presidential candidate said if he becomes the president, Poland will have more very friendly regulations, low taxes, and a supportive approach from banks and regulators."
Notably, Mentzen owns 33.7 Bitcoin valued at over $3 million, underscoring his interest in Bitcoin. With Bitcoin's limited supply and inherent hedge against inflation, creating a strategic BTC reserve would help strengthen Poland's economy. Also, it will be a means of diversifying the country's assets.
Mentzen's declaration comes in response to a query by the CEO of Swap.ly and co-founder of InPay, Lech Wilczyski. In an earlier X post, Wilczyski had shared a model of the strategic Bitcoin reserve, asking whether Mentzen would create one for Poland if elected.
Wilczyski wrote on X: The draft bill on the strategic bitcoin reserve is available for use. There is no point in waiting. Instead of passing a nonsense bill on crypto assets, this should go first before it is too late. Will the president @SlawomirMentzen seek to create a strategic reserve in Poland?"
To this question, Mentzen replied Of course!"
Poland will conduct its presidential elections in May 2025. Among the country's presidential candidates, Mentzen has gained significant popularity, mainly among right-wing and libertarian voters.
Other Countries Embracing BitcoinMentzen's latest statement echoes similar promises as the US president-elect Donald Trump. During his election campaign, Donald Trump made several bold promises to crypto voters.
Among the most prominent was his pledge to fire US SEC chair Gary Gensler and replace him with a crypto-friendly regulator. Trump also promised to introduce friendly regulators for digital assets, noting that the rules will be made by people who love crypto.
Donald Trump also promised to establish a strategic Bitcoin stockpile, igniting optimism among crypto enthusiasts. This led to a notable rally in the price of BTC post-election.
Meanwhile, Wyoming Senator Cynthia Lummis has already introduced a bill seeking to create a strategic Bitcoin reserve in July. If approved, this bill will allow the US Treasury to purchase BTC and create a fund to strengthen the economy and offset national debt. The draft bill proposes acquiring one million Bitcoins over five years for a minimum of 20 years.
By adopting BTC, Poland would be towing similar paths to countries like El Salvador and the Kingdom of Bhutan, which has been quietly mining Bitcoin for a while.
El Salvador was the first country to adopt the Bitcoin strategy under its incumbent president, Nayib Bukele. The nation also adopted Bitcoin as a legal tender and has been accumulating BTC regularly since. El Salvador currently holds 5,748.8 Bitcoin in its stockpile.
Argentina has also indicated interest in adopting the Bitcoin strategy. The country is currently collaborating with El Salvador to explore options and better understand how digital assets work.
In addition, Switzerland is exploring how to integrate Bitcoin into the financial system.
The post Polish Presidential Candidate Promises to Create Strategic Bitcoin Reserve If Elected appeared first on Techreport.