KEY FACT: Polish presidential candidate Sławomir Mentzen has pledged to establish a strategic Bitcoin reserve if elected in 2025, in tune with the growing global trend of integrating digital assets into national financial strategies. Mentzen’s proposal aligns with similar initiatives, such as U.S. President-elect Donald Trump’s campaign promise for a Bitcoin stockpile and Senator Cynthia Lummis’ proposed legislation to create a U.S. Bitcoin reserve. The concept has gained traction, inspired by countries like El Salvador, which adopted Bitcoin as legal tender in 2021 and continues accumulating it, and Bhutan, which reportedly holds $780 million in digital assets.
Image Source: Slawomir Mentzen/X
Polish Presidential Candidate Pledges Support for Strategic Bitcoin Reserve
Polish presidential candidate Sławomir Mentzen has announced his intention to establish a strategic Bitcoin reserve if elected in the 2025 elections. Mentzen's commitment to a Bitcoin reserve was articulated in a statement on X (formerly Twitter) on November 17, 2024. Responding to his stance on cryptocurrency, he affirmed his plan to make Poland more crypto-friendly and confirmed his intention to create a strategic Bitcoin reserve upon assuming office.
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.
BTC to the Moon!
Source
This policy proposal mirrors similar initiatives by other political figures. Notably, U.S. President-elect Donald Trump, during his campaign, pledged to establish a "Strategic Bitcoin Stockpile" for the United States. Additionally, U.S. Senator Cynthia Lummis introduced a bill in July 2024 aimed at creating a Bitcoin strategic reserve. The proposed legislation seeks to acquire one million Bitcoins over five years, holding them for at least two decades as a hedge against national debt.
The concept of national Bitcoin reserves has gained traction in recent years. El Salvador set a precedent in 2021 by becoming the first country to adopt Bitcoin as legal tender. Under President Nayib Bukele's leadership, El Salvador has continued to accumulate Bitcoin, with its holdings reportedly reaching 5,748.8 $BTC. Similarly, the Kingdom of Bhutan has been discreetly mining Bitcoin for years, with reports in September 2024 indicating that the nation holds approximately $780 million in digital assets.
Image Source: Poland, Bitcoin
Mentzen's proposal has sparked discussions within Poland's political and financial sectors. Advocates argue that a strategic Bitcoin reserve could hedge against economic uncertainties and enhance Poland's position in the global digital economy. Critics, however, caution about the volatility of cryptocurrencies and the potential risks associated with integrating them into national reserves.
In an earlier post, Lech Wilczynski, the CEO of crypto exchange Swap.ly, shared the open-source Strategic Bitcoin Reserve model policy created by the crypto advocacy group the Satoshi Action Fund and asked Mentzen if he would follow the plan if elected. Wilczynski said:
“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 Sławomir Mentzen seek to create a strategic reserve in Poland?”.
Mentzen replied that “of course,” he would. As the 2025 presidential elections approach, Mentzen's cryptocurrency policy is expected to be a focal point of his campaign. His stance reflects a broader global trend of integrating digital assets into national financial strategies. Meanwhile, Mentzen has gained significant popularity in Poland, especially among libertarian and right-wing voters.
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