Slawomir Mentzen, leader of Poland’s “New Hope” party and one of its candidates in the upcoming presidential elections, recently made headlines when he announced on X that he intends to create a strategic Bitcoin reserve for Poland. Mentzen holds an estimated portfolio of 33.7 Bitcoin, worth over $3 Million dollars – further evidence of his interest.
Is a Bitcoin Reserve in Poland’s Future?
Lech Wilczynski, CEO of Instar Energy Lab S.A. and co-founder of InPay, made an inquiry about Mentzen’s plans for such a strategic reserve; Mentzen confirmed it emphatically by responding “Obviously.” Wilczynski had also identified that there is already an updated draft bill ready for consideration by Poland for creating such a reserve, criticizing its delayed consideration in lieu of less effective crypto asset regulations.
Draft Bill Proposed By Satoshi Action Fund In Pennsylvania Following this exchange, Mentzen took to X to further endorse the Bitcoin Reserve initiative: “Poland should create a Strategic Bitcoin Reserve – If I become President, Poland could become a cryptocurrency paradise with favorable regulations, low taxes and supportive banking and regulatory environments – BTC to the Moon!”
Though these plans have garnered much enthusiasm, it remains to be seen if Poland will embrace this strategic Bitcoin reserve anytime soon. Given Poland’s monetary autonomy within the European Union due to their continued use of their national currency over Euros, unique factors may impact such a decision.
Mentzen’s far-right “New Hope” party presently enjoys limited legislative influence, garnering 6.2% of votes which translated to 12 seats in Poland’s lower house of parliament during 2023 elections. He termed this result a “defeat,” reflecting upon how difficult it will be to garner wider support for his initiatives.
Mentzen’s Strategic Bitcoin Reserve appears uncertain due to his party being in minority in Poland’s Senate as noted by BitcoinDACH. Yet, Mentzen continues to draw attention as one of the leading figures of Confederation coalition, having amassed over 40 million views on TikTok. Despite these obstacles and hurdles such as being blocked from Instagram during parliamentary elections, Mentzen remains outspoken against EU, high taxes, and excessive welfare spending policies, positioning himself and New Hope party as conservative voices for Poland.
At press time, Bitcoin’s value stood at $92,023. This mark represented a critical moment in its valuation history.
