Emily Walker
Sławomir Mentzen, the leader of Poland’s “New Hope” party and a candidate in the upcoming presidential elections, has revealed plans to establish a strategic Bitcoin reserve in Poland. This initiative highlights his strong interest in Bitcoin, supported by his personal investment of 33.7 BTC, valued at over $3 million.
Potential for a Bitcoin Reserve in Poland
The topic gained attention when Lech Wilczyński, CEO of Instar Energy Lab S.A. and Co-Founder of InPay, asked Mentzen about his position on a Bitcoin reserve. Mentzen confirmed his support, stating simply, “Obviously,” in a post on X.
Wilczyński also remarked, “The draft bill on the Strategic Bitcoin Reserve is ready. We shouldn’t delay. Instead of pushing for ineffective legislation on crypto assets, this should take priority before it’s too late. Will President Sławomir Mentzen pursue this reserve?”
The draft bill mentioned by Wilczyński comes from the “Satoshi Action Fund,” a nonprofit group. This U.S.-based lobbying organization, led by Dennis Porter, previously helped introduce a similar bill in Pennsylvania.
After his initial endorsement on X, Mentzen reiterated his support, declaring that if he becomes President, “Poland will turn into a cryptocurrency haven with friendly regulations, low taxes, and supportive banks and regulators. BTC to the Moon!”
Despite the enthusiasm for the Bitcoin reserve, it’s unclear if Poland will promptly adopt it. With Poland using its own currency, the złoty, and not being in the Eurozone, the country’s monetary independence might factor into such a decision.
Politically, Mentzen’s “New Hope” party is described as far-right and holds limited legislative power. It garnered only 6.2% of the vote in the 2023 elections, resulting in 12 seats in the Sejm, the lower house of parliament. Mentzen has referred to this electoral performance as a “defeat,” suggesting the outcomes were less than expected.
Commenting on the legislative landscape in the Senate, BitcoinDACH noted the potential for Bitcoin as a reserve, but cautioned against overestimating its chances. The ruling PiS party currently holds 180 seats, the KO party 124 seats, while Mentzen’s party has only 7 seats, indicating a slim probability for this initiative at the moment.
Mentzen is set to represent the far-right Confederation coalition in the upcoming presidential election, and he has gained popularity, especially on TikTok, with 40 million views. However, he faced issues with his online presence; his Instagram account with over 340,000 followers was blocked before the last parliamentary elections, which he and his allies deemed electoral interference.
In addition to promoting cryptocurrency, Mentzen aims to position the New Hope party as Poland’s leading conservative force. He opposes the European Union, advocating for Poland’s withdrawal from the bloc, and is against high taxes and extensive welfare spending, aligning his political agenda with fiscal conservatism and national autonomy.
At the time of writing, Bitcoin is priced at $92,023.