Polish Presidential Candidate Pledges Support for Strategic Bitcoin Reserve
In a recent statement to X, Polish presidential candidate Sławomir Mentzen made headlines by vowing to create a Bitcoin reserve if he wins next year’s election. This move mirrors a promise made by US President-elect Donald Trump during his campaign and highlights the growing interest in cryptocurrencies among politicians worldwide.
Mentzen’s Stance on Cryptocurrencies
In an earlier post, Lech Wilczynski, CEO of crypto exchange Swap.ly, shared an open-source Strategic Bitcoin Reserve model policy created by the Satoshi Action Fund. The policy aims to establish a strategic reserve for countries to hold and manage their cryptocurrency assets.
Wilczynski asked Mentzen if he would consider implementing such a plan if elected. In response, Mentzen stated that "of course," he would. This decision has sparked excitement among libertarians and right-wing voters in Poland, who have been following Mentzen’s campaign closely.
A Look at the Satoshi Action Fund’s Strategic Bitcoin Reserve Policy
The Strategic Bitcoin Reserve policy is an open-source model designed to help countries establish a strategic reserve for their cryptocurrency assets. The policy outlines the benefits of holding a strategic reserve, including:
- Reducing National Debt: By acquiring and holding large amounts of Bitcoin, countries can reduce their national debt and hedge against economic uncertainty.
- Promoting Financial Inclusion: Cryptocurrencies like Bitcoin have the potential to promote financial inclusion by providing access to financial services for underserved populations.
- Fostering Economic Growth: A strategic reserve can also foster economic growth by encouraging investment, innovation, and trade.
Other Countries’ Initiatives
Poland is not the only country exploring the idea of creating a Bitcoin reserve. In fact, several countries have taken steps to hold large amounts of Bitcoin.
- El Salvador: The first country in the world to legalize Bitcoin as legal tender, El Salvador has been accumulating BTC regularly under the direction of President Nayib Bukele.
- The Kingdom of Bhutan: According to Arkham Intelligence, Bhutan has been quietly mining Bitcoin for years and holds about $780 million in digital assets.
The US Connection
Donald Trump made several crypto-related promises during his campaign, including establishing a ‘Strategic Bitcoin Stockpile.’ Senator Cynthia Lummis introduced a bill in July to establish a Bitcoin strategic reserve, which would create a fund to hedge against the national debt. The goal is to acquire one million Bitcoins over five years and hold them for at least 20 years.
Conclusion
Sławomir Mentzen’s promise to create a Bitcoin reserve if he wins next year’s election highlights the growing interest in cryptocurrencies among politicians worldwide. With several countries already exploring the idea of creating a strategic reserve, it will be interesting to see how this development unfolds in Poland and beyond.
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