Poland presidential candidate wants to allow nation to hold Bitcoin with strategic reserve Poland presidential candidate wants to allow nation to hold Bitcoin with strategic reserve
The presidential hopeful plans to utilize the Satoshi Action Fund's model to guide Poland's Bitcoin reserve initiative if elected.
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Updated: Nov. 18, 2024 at 9:57 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Poland’s libertarian presidential candidate, Sławomir Mentzen, has announced plans to create a Strategic Bitcoin Reserve if he wins the May 2025 elections.
Mentzen shared his vision on Nov. 17 through the social media platform X. He outlined his commitment to turning Poland into a crypto hub with supportive regulations, low taxes, and a cooperative stance from financial institutions and regulators.
He wrote:
“Poland should create a Strategic Bitcoin Reserve. If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators.” (Translated from Polish)
Meanwhile, the proposal may draw inspiration from the Strategic Bitcoin Reserve framework developed by the Satoshi Action Fund, a crypto advocacy group.
In a post on X, Lech Wilczynski, CEO of Swap.ly, stressed the urgency of adopting forward-thinking strategies, suggesting that delaying action could hinder Poland’s competitive edge in crypto innovation.
So, Mentzen suggested leveraging the BTC advocacy group’s open-source policy model to guide his initiative.
Mentzen’s advocacy for Bitcoin aligns with his investments in the crypto. Earlier this month, he celebrated BTC reaching an all-time high and reportedly vowed not to sell his holdings despite the price increases.
Bitcoin reserves trend
Mentzen’s plan echoes global initiatives to integrate Bitcoin into national and institutional financial strategies.
Conversations about adopting Bitcoin as a strategic reserve in the US have gained momentum following Donald Trump’s recent reelection. Advocates suggest this could position Bitcoin as a modern-day “digital gold” to fortify the US dollar.
Former White House official Anthony Scaramucci said:
“Strategic BTC reserve can be positioned as the new Fort Knox. Digital gold to support and back stop the USD.”
Meanwhile, El Salvador offers a practical example, embracing Bitcoin as a legal tender under President Nayib Bukele. The country’s bold approach includes holding over 5,700 BTC, valued at $522 million, to signal its commitment to the digital currency as a cornerstone of its economy.
Outside of nation-state adoption, several publicly traded companies have also announced intentions to integrate the top digital asset into their treasury reserves. The firms explained that their decision is based on the fact that BTC can help protect them against inflation and diversify their treasury.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Anthony Scaramucci is an acclaimed American entrepreneur and political consultant, making headlines for his fleeting role as the White House Director of Communications from July 21 to July 31, 2017.
Nayib Armando Bukele Ortez is a Salvadoran politician and businessman who is the 46th and current President of El Salvador.
Donald John Trump was born on June 14, 1946, in Queens, New York City.