Slawomir Mintzen, head of Poland’s New Hope party and a contender in the upcoming presidential election, announced his plans to create a strategic Bitcoin reserve in Poland during a speech on X. The initiative underscores Mintzen’s deep-rooted interest in Bitcoin, as evidenced by his interest in Bitcoin. Personal investment of 33.7 Bitcoin, worth over $3 million.
Will Poland create a Bitcoin reserve?
The announcement gained significance when Lech Wilczynski, CEO of Instar Energy Lab SA and co-founder of InPay, publicly questioned Mentzen on his position on promoting the Bitcoin Strategic Reserve in Poland. In response, Montzen unequivocally affirmed his position with statement“Clearly.”
Wilczyński wrote via Poland?
The bill Wilczynski referred to originated from a non-profit organization called the Satoshi Action Fund. Notably, a US-based lobbying group, led by Dennis Porter, helped introduce a similar bill to the Pennsylvania House of Representatives.
Mentzen’s endorsement of the Bitcoin Reserve Initiative gained further traction on X, where he retweeted related tweets and later made an additional announcement. The evening after his initial endorsement, he was shocked He added:
Poland should create a strategic bitcoin reserve. If I become President of Poland, our country will become a crypto haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators. Bitcoin to the moon!
Despite the momentum behind plans for a strategic Bitcoin reserve, it remains uncertain whether Poland will adopt this strategy soon. Poland’s unique position within the European Union, using its national currency – the zloty – and not being part of the Eurozone, provides distinct monetary independence that could influence the implementation of a Bitcoin reserve.
Politically, Montzin’s New Hope party is described as a far-right party with limited legislative influence. In the 2023 parliamentary elections, the party received 6.2% of the vote, which translates into 12 seats in the Polish Sejm. Montazen himself described the election result as a “defeat,” noting that the results were less than expectations.
Bitcoindach Comment On the legislative prospects in the Polish Senate: “The idea of using Bitcoin as a reserve is running its course, but should not be overestimated. PiS currently holds 180 seats, KO 124 seats, and Sławomir Mentzen 7 seats, which is a weak prospect so far.
Mintzen is scheduled to represent the far-right Confederation coalition in the upcoming presidential elections, as announced in August this year. It is worth noting that he is the most popular politician in Poland on TikTok, with 40 million views. However, its online presence has faced challenges; Before the recent parliamentary elections, Instagram blocked his account, which had more than 340,000 followers. Montazen and his allies in the national right-wing camp denounced this measure, describing it as interference in the elections.
Beyond his support for cryptocurrencies, Montazen has positioned the New Hope Party as the primary conservative force in Poland. He is openly opposed to the European Union, and calls for Poland’s exit from the bloc. In addition, he was outspoken against high taxes and expanded welfare spending, aligning his platform with fiscal conservatism and national sovereignty.
At press time, Bitcoin was trading at $92,023.
Featured image by Do Rzeczy, chart from TradingView.com
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