Summary:
Sławomir Mentzen proposes a strategic Bitcoin reserve in Poland.
Mentzen has invested 33.7 BTC, valued over $3 million.
The proposal arises from a draft bill by the Satoshi Action Fund.
Mentzen envisions Poland as a cryptocurrency haven with friendly regulations.
Current political landscape limits the New Hope party's influence.
Sławomir Mentzen, chairman of the Polish New Hope party and a candidate in the upcoming presidential election, has announced plans to establish a strategic Bitcoin reserve in Poland during a discussion on X. This initiative reflects Mentzen’s deep interest in Bitcoin, as he has personally invested 33.7 BTC, valued at over $3 million.
Will Poland Establish A Bitcoin Reserve?
The proposal gained traction when Lech Wilczyński, CEO of Instar Energy Lab S.A., questioned Mentzen’s stance on the Bitcoin reserve. Mentzen responded affirmatively, stating, “Obviously.”
Wilczyński highlighted the urgency of this initiative, suggesting that instead of delaying, Poland should prioritize the Strategic Bitcoin Reserve over less relevant legislation on crypto assets.
The draft bill concerning the reserve originates from the Satoshi Action Fund, a non-profit organization. This bill is similar to one submitted by a US-based lobbying group led by Dennis Porter to the Pennsylvania House of Representatives.
Mentzen's support for the Bitcoin reserve initiative gained momentum on social media, where he shared relevant tweets and reiterated his commitment, declaring:
“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!”
Despite the excitement surrounding the proposal, the timeline for Poland adopting this strategy is uncertain. Poland's unique position in the European Union, with its use of the złoty and not being part of the Eurozone, may impact the implementation of a Bitcoin reserve.
Mentzen’s New Hope party, which is characterized as far-right, currently holds limited legislative power, having secured 6.2% of the vote in the 2023 parliamentary elections.
While Mentzen is popular, especially on TikTok with 40 million views, he has faced challenges, including account restrictions on Instagram, which he and his supporters viewed as electoral interference. Additionally, he has positioned his party against the European Union, advocating for lower taxes and reduced welfare spending.
At the time of writing, Bitcoin is trading at $92,023.
Bitcoin closed above the 1.618 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
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