Poland Eyes Bitcoin: Presidential Candidate Advocates Strategic Reserve Amid $100K BTC Hype

• The Polish presidential candidate declares his willingness to establish a Bitcoin strategic reserve, low taxes, and crypto-friendly regulations to push the asset to the moon. 
• World Bank data shows that the Kingdom of Bhutan had a crypto reserve forming 26% of its national Gross Domestic Product (GDP) in 2023. 

The Chairman of the Polish “New Hope” party and presidential candidate, Sławomir Mentzen, takes a cue from the US president-elect Donald Trump, with an aggressive pro-crypto-focused campaign.

Details of his Message

In one of his usual interactions on X, the CEO of crypto exchange Swap.ly, Lech Wilczynski, confronted him with the question of whether he would favor and promote the Bitcoin (BTC) strategic reserve in Poland.

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?

In his question, Wilczynski attached an open-source Strategic Bitcoin Reserve model policy, which was created by the Satoshi Action Fund.

Fascinatingly, Mentzen answered in the affirmative. According to him, his administration would lobby for support from the National Bank to establish the Bitcoin strategic reserve. In addition to that, he would create a crypto-friendly environment with flexible regulations for the asset class to thrive.

Source: Slawomir Mentzen on X

Delving deeper into his involvement with the industry, CNF discovered that Mentzen had been a long-time advocate of Bitcoin, purchasing the asset in 2013. Addressing the accusations of convincing others to buy cryptos, Mentzen disclosed on Filip Kowiarski’s YouTube channel that he has never bought them for years, and he has never tried selling cryptos to anyone.

I have been holding Bitcoins for years, I have been holding cryptocurrencies. I bought them back in 2013; at the beginning of this year, I sold a little bit (…), but I hold the vast majority. Some people accuse me of trying to sell cryptocurrencies and say, buy them. I am absolutely not trying to sell cryptocurrencies to anyone; I have not bought any cryptocurrencies for years; it is a very risky investment.

The US, El Salvador, and the Kingdom of Bhutan Making Bitcoin Move

US Senator Cynthia Lummis presented a bill in July to create a Bitcoin strategic reserve. According to experts, an approval would create a Bitcoin fund which will hedge against the national debt. Researching the bill, we found that it proposes the accumulation of one million Bitcoins over a period of five years.

Another country that has made a significant Bitcoin move is El Salvador. According to our earlier reports, this country, led by President Nayib Bukele, has accumulated about 5,748.8. On top of that, it is the first country to recognize Bitcoin as a legal tender.

Similarly, the Kingdom of Bhutan, which is reported to have been mining Bitcoin for years, is said to hold $780 million in digital assets. World Bank data also discloses that the country’s crypto reserve formed 26.9% of the $2.9 billion 2023 national Gross Domestic Product (GDP).

At press time, Bitcoin was trading at $91.7k after surging by 1.3% in the last 24 hours.