Polish Presidential Candidate Mentzen Pledges Bitcoin Reserve

Polish presidential candidate Sławomir Mentzen has committed to establishing a Bitcoin reserve if elected in 2025.

The move aligns with growing global interest in cryptocurrency as a strategic asset, echoing a similar promise made by US President-elect Donald Trump during his campaign.

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Mentzen Vows To Make Poland A Crypto Hub

In a statement shared on X on 17 November 2024, Mentzen outlined his vision for a crypto-friendly Poland. He also responded to a query about implementing a Bitcoin reserve.

“Poland should create a Strategic Bitcoin Reserve,” he stated, adding that under his leadership, Poland would transform into a “cryptocurrency haven” characterized by favorable regulations, low taxes, and supportive banking policies.

Polish Presidential candidate to create a Strategic #Bitcoin Reserve for Poland

HERE WE GO pic.twitter.com/XYlj1kQtgy

— Vivek (@Vivek4real_) November 17, 2024

The concept of a Bitcoin reserve has been spotlighted in Poland’s crypto circles. Lech Wilczynski, CEO of the cryptocurrency exchange Swap.ly, urged Mentzen to adopt a policy framework developed by the Satoshi Action Fund, a crypto advocacy organization.

Sharing an open-source model, Wilczynski emphasized the urgency, saying, “There is no point in waiting. Instead of passing a nonsense bill on crypto assets, this should go first before it is too late.” Mentzen affirmed his support, replying with an unequivocal “of course.”

Poland’s presidential election, scheduled for May 2025, will determine if Mentzen’s pro-crypto policies gain traction. Known for his libertarian and right-wing appeal, the candidate’s bold proposal has sparked discussions about Poland’s potential role in the global cryptocurrency landscape.

Mentzen’s vision mirrors developments in the U.S., where Senator Cynthia Lummis introduced legislation in July 2024 to create a Bitcoin strategic reserve. The proposal aims to accumulate one million Bitcoin over five years to hedge against national debt.

Meanwhile, other nations have already embraced Bitcoin as a strategic asset. El Salvador, under President Nayib Bukele, made Bitcoin legal tender in 2021 and now holds 5,748.8 Bitcoin.

Similarly, Bhutan has quietly mined Bitcoin for years, with holdings reportedly valued at $780 million as of September.

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Bitcoin Emerges As Key Political Asset

Following the recent electoral victories of Donald Trump and the Republican party, Bitcoin is set to become a significant political asset, according to insights from the New York Digital Investment Group (NYDIG).  

Last week, the investment management firm said investors who have yet to embrace Bitcoin may find themselves at a disadvantage as crypto prices continue to surge.

“While some investors have allocated to Bitcoin, the most common allocation for investors is still zero,” said Greg Cipolaro, NYDIG’s global head of research. “There are no excuses now.” 

Cipolaro said further regulatory changes are expected under the new administration, with likely appointments of pro-crypto advocates to lead the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Treasury.  

These changes could foster a more supportive environment for banks to provide custody services for digital assets. This includes stablecoins which enhances the integration of crypto into the broader financial ecosystem.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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