Polish presidential candidate Sławomir Mentzen proposes creating a Strategic Bitcoin Reserve to bolster Poland’s economy and hedge against inflation.
In a bold move reflecting growing global interest in cryptocurrencies, Sławomir Mentzen, a Polish presidential candidate, has proposed that Poland establish its own Strategic Bitcoin Reserve. His proposal is part of a broader vision to transform Poland into a cryptocurrency hub. Mentzen has promised friendly regulations, low taxes, and support from banks and regulators if elected president. He said, “To the Moon,” when referring to BTC, showing that he believed cryptocurrency adoption would spur economic development.
This proposal resonates with recent appeals, especially from the United States, for establishing national Bitcoin reserves. Mentzen’s push is a sign of a new wave of political leadership worldwide who see cryptocurrency as a means of changing the current global economy. With the help of Bitcoin promotion, Mentzen wants to put Poland at the head of the new digital finance movement. It also contains a free market policy, which is one of the main principles of his political views.
Polish Presidential Candidate Advocates for Bitcoin Reserve to Hedge Against Inflation
Mentzen has not stopped mentioning the intent to form a Bitcoin strategic reserve during the election campaigns. According to him, including Bitcoin in the Polish financial market would act as an inflation hedge and a long-term financial security source. If so, Poland would become one of the first countries to do it, strengthening its cryptocurrency-friendly stance.
After Trump won the presidential election, the price of Bitcoin increased by 30% in the last 12 days and touched its high of $93,000. This highlight highlighted that political endorsements were gaining much influence over the cryptocurrency market. The increase in Bitcoin’s value was attributed to investors’ confidence in the future of digital currencies, especially those nations that support them nationally.
However, in the United States, Pennsylvania is also taking significant steps into digital finance. On November 12, State Representative Mike Cabell presented the Pennsylvania Bitcoin Strategic Reserve Act of 2024. This bill states that the state should invest up to 10% of the more important state funds, the General Fund and Rainy Day Fund, in Bitcoin. The initiative is meant to spur the adoption of Bitcoin to help hedge against inflation and build up defences in a highly unpredictable economic environment. Pennsylvania’s action is another example of increasing awareness of using Bitcoin to preserve value.
