Poland Could Lead With Bitcoin Reserve, Presidential Hopeful Says

Poland Could Lead With Bitcoin Reserve, Presidential Hopeful Says

PENGY November 19, 2024, 2:03 am Facebook Twitter


Bitcoin, cryptocurrency, and a strategic Bitcoin national reserve is no longer just a US election issue; it’s now global, with many candidates taking the same sweeping proposal as a flagship policy.

Sławomir Mentzen, a Polish politician and chair of the New Hope Party, has recently announced a campaign promise to create a strategic Bitcoin reserve for Poland.

Mentzen unveiled his proposal via Twitter/X, adding that “there’s no reason to wait,” referring to his country’s potential Bitcoin cache. According to some reports, Mentzen is also invested in Bitcoin, with a holding of 33.7 BTC, or roughly $3 million, based on the current market price.

It’s About Time For Poland’s Crypto Reserve – Mentzen

Mentzen’s comment stemmed from a Twitter/X user asking him if he’d consider a strategic BTC reserve for Poland. The Polish presidential candidate answered in the affirmative, saying it was about time the country adopted this policy. He added that there’s a bill for a strategic reserve for the top asset, and there’s no time to wait.

Mentzen further argued that a strategic stockpile must be passed instead of other ordinary crypto laws. The social media user is referring to the “Satoshi Action Fund,” a bill filed by a non-profit organization.

The same lobby organization headed by Dennis Porter also helped draft a similar bill for the Pennsylvania House of Representatives.

Can Poland Follow The US Bitcoin Experience?

Although Bitcoin has become an election issue, whether Poland will join the Bitcoin bandwagon remains to be seen. Poland is not part of the European Union and uses a separate currency, the zloty.

Also, Mentzen’s party boasts far-right policies but has limited influence in Polish politics. The Konfederacja party alliance nominated Mentzen for next year’s presidential elections, but it’s unlikely that he’ll win with limited support from a small party.

However, as a presidential candidate and a member of the Polish Sejma, one of the two chambers in the country’s parliament, many believe the Bitcoin proposal will get some attention.

Mentzen’s Support Of Bitcoin Gets Traction

Mentzen’s social media post immediately garnered attention among observers and analysts. The politician even reposted his tweet and added another post sharing that he will ensure a friendly regulatory environment for cryptocurrency once he becomes the country’s president.

Today, election observers and market analysts are examining the possible role of Bitcoin in Mentzen’s campaign. Some are already asking if his pro-BTC stance can help sway public opinion and votes, even if he’s with a small party.

Featured image from DFRLab, chart from TradingView

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