Polish presidential candidate Sławomir Mentzen has pledged to establish a strategic Bitcoin reserve if he wins the 2025 election.
Shortly after U.S. President-elect Donald Trump announced plans for a national strategic Bitcoin reserve, Mentzen, the leader of Poland’s New Hope party and one of the leaders of the right-wing Confederation coalition, announced his plan on X (formerly Twitter).
He posted on November 17: “Poland should create a Strategic Bitcoin Reserve.”
“If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators. BTC [Bitcoin] to the Moon!,” Mentzen added.
Will Sławomir Mentzen Win Poland’s Presidential Election?
Mentzen’s candidacy reflects a growing interest in national conservatism and cryptocurrency among certain segments of the Polish electorate. Despite his rising popularity, especially among younger voters, current polling suggests he faces significant challenges.
According to an opinion poll from February 2024, three candidates were virtually tied in voter support: Warsaw Mayor, Rafał Trzaskowski, led with 25.8 percent, former Prime Minister Mateusz Morawiecki had 24.9 percent, and Speaker of the lower house of the Polish Parliament Szymon Hołownia held 24.6 percent. Mentzen’s support, while notable, trailed behind these frontrunners.
Mentzen is popular on social media, particularly on TikTok, where he promotes his ‘Beers with Mentzen’ campaign events, which see him drinking a beer on stage while addressing his audience, followed by meet and greets.
His social media profile teamed with his calls for lower income tax have earned him a growing following from younger Polish males. A 2022 survey from IPSOS found that one in three male voters under the age of 40 said they would vote for the Confederation coalition.
WOJTEK RADWANSKI/AFP via Getty Images
The Polish presidential election uses a two-round system, requiring a candidate to secure over 50 percent of the vote to win outright in the first round. If no candidate achieves this majority, the top two candidates proceed to a runoff. Given this structure, Mentzen would need to significantly broaden his appeal to secure the presidency.
The Confederation party officially nominated Mentzen as their candidate in August 2024, bypassing internal primaries due to the clear choice between him and co-leader Krzysztof Bosak.
Which Other Countries Are Embracing Bitcoin?
Mentzen’s proposal places Poland among a select group of nations exploring the integration of Bitcoin into their national strategies.
El Salvador
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender. President Nayib Bukele’s administration introduced the Chivo Wallet to facilitate transactions, offering citizens $30 in Bitcoin for signing up.
However, adoption has been limited; a 2024 study by Francisco Gavidia University found only 7.5 percent of Salvadorans use Bitcoin for transactions. The International Monetary Fund (IMF) has also raised concerns about financial stability and consumer protection, urging the El Salvadorian government in 2022 to reverse its decision to make Bitcoin legal tender.
President Bukele remains committed to integrating Bitcoin into the national economy. In a September 2024 interview with TIME, he acknowledged the partial success of Bitcoin adoption and expressed optimism about its future potential.
“I expected more adoption, definitely, but we always prided ourselves on being a free country, free in every way,” said Bukele, adding, “I’m not going to say it’s the currency of the future, but there’s a lot of future in that currency.”
United States
President-elect Trump has expressed intentions to position the U.S. as a global leader in the crypto space, proposing the establishment of a strategic national Bitcoin reserve.
This plan involves the U.S. government acquiring up to one million BTC over five years, aiming to bolster the nation’s financial position and influence in the digital currency market.
Trump’s bullish views on Bitcoin have already pushed the cryptocurrency’s price to an historic high, reaching $90,000 on November 13 following his announcement that he would reduce regulatory constraints on digital assets.
Argentina
In December 2023, Argentina’s Minister of Foreign Affairs, Diana Mondino, announced that contracts within the country could be denominated in Bitcoin. She said: “We ratify and confirm that in Argentina contracts can be agreed in Bitcoin,” highlighting the government’s openness to cryptocurrency in formal agreements.
Despite these advancements, Argentina has faced challenges in regulating the burgeoning cryptocurrency market. In July 2024, the government introduced new regulations to mitigate risks such as money laundering, following significant crypto transaction volumes in the country.
