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Home»Bitcoin»Polish presidential candidate Mentzen promises Bitcoin stash
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Polish presidential candidate Mentzen promises Bitcoin stash

November 19, 2024No Comments
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Polish presidential candidate Sławomir Mentzen has pledged to establish a Bitcoin reserve if he is 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.

EXPLORE: Who accepts Bitcoin in 2024? Businesses and stores that accept crypto

Mentzen vows to make Poland a crypto hub

In a shared statement on On November 17, 2024, Mentzen outlined his vision for a cryptocurrency-friendly Poland. He also answered a question regarding the implementation of a Bitcoin reserve.

“Poland should create a strategic Bitcoin reserve,” he said, adding that under his leadership Poland would transform into a “cryptocurrency haven” characterized by favorable regulations, low taxes and policies banking support.

🇵🇱 The Polish presidential candidate to create a #Bitcoin Reserve for Poland 🤯

HERE WE GO 🚀 pic.twitter.com/XYlj1kQtgy

-Vivek⚡ (@Vivek4real_) November 17, 2024

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

Sharing an open source model, Wilczynski emphasized the urgency, saying: “There is no point in waiting. Instead of passing an absurd crypto asset bill, this should happen before it’s too late. Mentzen affirmed his support, responding with an unequivocal “of course.”

The Polish presidential election, scheduled for May 2025, will determine whether 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 reflects developments in the United States, where Senator Cynthia Lummis introduced legislation in July 2024 to create a strategic Bitcoin reserve. The proposal aims to accumulate one million Bitcoins over five years to protect against the national debt.

Meanwhile, other countries have already adopted Bitcoin as a strategic asset. El Salvador, under the leadership of President Nayib Bukele, made Bitcoin legal tender in 2021 and now holds 5,748.8 Bitcoins.

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

EXPLORE: Impact of Donald Trump’s presidency on your crypto portfolio

Bitcoin emerges as a key political asset

Following the recent election victories of Donald Trump and the Republican Party, Bitcoin is poised to become an important political assetaccording to information from the New York Digital Investment Group (NYDIG).

Last week, the investment management firm said investors who have not yet adopted Bitcoin could find themselves at a disadvantage as cryptocurrency prices continue to rise.

“Although some investors have invested in Bitcoin, the most common allocation for investors is still zero,” said Greg Cipolaro, global head of research at NYDIG. “There are no more excuses now.”

Cipolaro said more regulatory changes are expected under the new administration, with likely appointments of cryptocurrency 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 favorable environment for banks to provide digital asset custody services. This includes stablecoins that improve the integration of crypto into the broader financial ecosystem.

EXPLORE: American Bitcoin Reserve: the world on the brink of the BTC arms race

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

The post Polish presidential candidate Mentzen promises Bitcoin stash appeared first on .





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