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Bitcoin As A National Treasure? Poland In The Race

Mon 18 Nov 2024 ▪ 3 min read ▪ by Fenelon L.
Getting informed Event

Sławomir Mentzen, candidate for the Polish presidential election of 2025, promises to create a national Bitcoin reserve if he comes to power. This announcement is part of a growing movement for institutional adoption of cryptocurrencies by states.

Un candidat pro Bitcoin de Pologne

A candidate for the Polish presidency promises a strategic Bitcoin reserve

On November 17, Sławomir Mentzen made a notable announcement on the social network X regarding his project to establish a strategic Bitcoin reserve for Poland.

This statement came in response to Lech Wilczynski, CEO of the exchange platform Swap.ly, who was questioning the potential adoption of the reserve model proposed by the Satoshi Action Fund, an influential crypto advocacy group.

The bill on the strategic Bitcoin reserve is ready. There is no time to waste. Rather than adopting inadequate crypto legislation, we must act now before it is too late,” said Wilczynski, before directly addressing the candidate: “Will President Sławomir Mentzen seek to create a strategic reserve in Poland?”

In response to this question, Mentzen’s answer was clear and direct: “Of course.” This firm stance reflects his willingness to establish Poland as a key player in the crypto ecosystem.

This initiative echoes the recent promise by Donald Trump during his American presidential campaign, illustrating a growing trend among political leaders to view Bitcoin as a strategic asset for their nation.

The announcement comes strategically a few months before the Polish presidential elections in May 2025, and could strengthen the already significant support Mentzen has among the libertarian and tech-savvy electorate.

A strategy inspired by international models

Mentzen’s proposal aligns with several notable governmental initiatives. Indeed, in the United States, Senator Cynthia Lummis introduced an ambitious bill last July aiming for the acquisition of one million Bitcoins over five years, intended to cover the national debt. This plan includes a minimum holding period of 20 years, reflecting a long-term vision.

El Salvador is a pioneer in this area, having made Bitcoin legal tender as early as 2021. Under the presidency of Nayib Bukele, the country has amassed an impressive reserve of 5,748.8 Bitcoins.

More discreetly, Bhutan has also joined this movement, with a digital asset portfolio valued at approximately $780 million, according to revelations from Arkham Intelligence in September.

In summary, this strategy of diversifying national reserves towards Bitcoin seems to be gaining popularity among political leaders, potentially marking the beginning of a new era in the management of sovereign assets.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.