Sławomir Mentzen, the head of Poland’s “New Hope” party and a presidential hopeful, has unveiled plans to create a strategic Bitcoin reserve in Poland. This announcement came during a discussion on X, highlighting Mentzen’s keen interest in cryptocurrency. His personal investment of 33.7 BTC, worth over $3 million, further underscores his commitment to Bitcoin.
Is Poland on the Brink of a Bitcoin Reserve?
The conversation gained traction when Lech Wilczyński, CEO of Instar Energy Lab S.A. and Co-Founder of InPay, questioned Mentzen’s position on establishing a Bitcoin reserve in Poland. Mentzen responded affirmatively, stating, “Obviously.” Wilczyński urged action, suggesting that a draft bill for a Strategic Bitcoin Reserve was ready for adoption, emphasizing its importance over less pertinent crypto legislation.
The Origin of the Draft Bill
The proposed legislation mentioned by Wilczyński is attributed to the non-profit “Satoshi Action Fund.” This US-based lobbying group, led by Dennis Porter, has previously assisted in introducing a similar bill to Pennsylvania’s House of Representatives. Mentzen’s support for the initiative gained further momentum on X, where he not only endorsed the idea but also added:
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!
Poland’s Unique Position
Despite the enthusiasm surrounding the Strategic Bitcoin Reserve, its immediate implementation in Poland remains uncertain. Poland’s unique monetary autonomy within the European Union, due to its use of the złoty instead of the euro, could play a pivotal role in the decision-making process regarding a Bitcoin reserve.
Political Landscape and Challenges
The “New Hope” party, identified as far-right, holds a limited legislative presence with 12 seats in the Sejm following the 2023 parliamentary elections, where they garnered 6.2% of the vote. Mentzen described these results as a “defeat,” suggesting they did not meet expectations. BitcoinDACH commented on the legislative prospects, noting the current seat distribution in the Polish Senate, which poses challenges for advancing the Bitcoin reserve proposal.
Mentzen’s Political Journey
Mentzen is set to represent the far-right Confederation coalition in the upcoming presidential election. Despite being the most popular Polish politician on TikTok with 40 million views, he has faced social media challenges, including the blocking of his Instagram account with over 340,000 followers, which he and his allies labeled as electoral interference.
Advocacy Beyond Cryptocurrency
In addition to his cryptocurrency advocacy, Mentzen positions the New Hope party as Poland’s main conservative force. He opposes the European Union, advocating for a departure from the bloc, and is a staunch critic of high taxes and extensive welfare spending, aligning with fiscal conservatism and national sovereignty.
As of the latest updates, Bitcoin is trading at $92,023.
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