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Polish presidential candidate Sławomir Mentzen has dedicated to establishing a Bitcoin reserve if elected in 2025.
The transfer aligns with rising international curiosity in cryptocurrency as a strategic asset, echoing an identical promise made by US President-elect Donald Trump throughout his marketing campaign.
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Mentzen Vows To Make Poland A Crypto Hub
In a statement shared on X on 17 November 2024, Mentzen outlined his imaginative and prescient for a crypto-friendly Poland. He additionally responded to a question about implementing a Bitcoin reserve.
“Poland ought to create a Strategic Bitcoin Reserve,” he said, including that beneath his management, Poland would rework right into a “cryptocurrency haven” characterised by favorable laws, low taxes, and supportive banking insurance policies.
Polish Presidential candidate to create a Strategic #Bitcoin Reserve for Poland
HERE WE GO
pic.twitter.com/XYlj1kQtgy
— Vivek
(@Vivek4real_) November 17, 2024
The idea of a Bitcoin reserve has been spotlighted in Poland’s crypto circles. Lech Wilczynski, CEO of the cryptocurrency trade Swap.ly, urged Mentzen to undertake a coverage framework developed by the Satoshi Motion Fund, a crypto advocacy group.
Sharing an open-source mannequin, Wilczynski emphasised the urgency, saying, “There is no such thing as a level in ready. As a substitute of passing a nonsense invoice on crypto belongings, this could go first earlier than it’s too late.” Mentzen affirmed his assist, replying with an unequivocal “in fact.”
Poland’s presidential election, scheduled for Might 2025, will decide if Mentzen’s pro-crypto insurance policies acquire traction. Identified for his libertarian and right-wing enchantment, the candidate’s daring proposal has sparked discussions about Poland’s potential position within the international cryptocurrency panorama.
Mentzen’s imaginative and prescient mirrors developments within the U.S., the place Senator Cynthia Lummis launched laws in July 2024 to create a Bitcoin strategic reserve. The proposal goals to build up a million Bitcoin over 5 years to hedge in opposition to nationwide debt.
In the meantime, different nations have already embraced Bitcoin as a strategic asset. El Salvador, beneath President Nayib Bukele, made Bitcoin authorized tender in 2021 and now holds 5,748.8 Bitcoin.
Equally, Bhutan has quietly mined Bitcoin for years, with holdings reportedly valued at $780 million as of September.
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Bitcoin Emerges As Key Political Asset
Following the latest electoral victories of Donald Trump and the Republican social gathering, Bitcoin is set to become a significant political asset, based on insights from the New York Digital Funding Group (NYDIG).
Final week, the funding administration agency stated buyers who’ve but to embrace Bitcoin might discover themselves at a drawback as crypto costs proceed to surge.
“Whereas some buyers have allotted to Bitcoin, the commonest allocation for buyers continues to be zero,” stated Greg Cipolaro, NYDIG’s international head of analysis. “There are not any excuses now.”
Cipolaro stated additional regulatory modifications are anticipated beneath the brand new administration, with possible appointments of pro-crypto advocates to steer the Federal Deposit Insurance coverage Company, the Workplace of the Comptroller of the Foreign money, and the Treasury.
These modifications might foster a extra supportive atmosphere for banks to supply custody providers for digital belongings. This contains stablecoins which boosts the combination of crypto into the broader monetary ecosystem.
EXPLORE: US Bitcoin Reserve: World On Precipice of BTC Arms Race
Disclaimer: Crypto is a high-risk asset class. This text is supplied for informational functions and doesn’t represent funding recommendation. You could possibly lose your whole capital.
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