Poland’s Mentzen Proposes Strategic Bitcoin Reserve for 2025 Election
Following the success of pro-crypto leaders in the United States, particularly President-elect Donald Trump, Poland is considering a Bitcoin adoption plan. Polish politician Sławomir Mentzen announced an intention to establish a Strategic Bitcoin Reserve if elected in 2025.
As Bitcoin gains recognition as a global store of value, Mentzen aims to create a crypto-friendly market in Poland. The country already adheres to the EU's clear crypto regulatory framework known as MiCA.
Mentzen stated, “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.” He is the chairman of the New Hope party and co-chairman of the Confederation Freedom and Independence council, seeking voter support through cryptocurrency initiatives. Statista reports that the Polish cryptocurrency market could reach 7.9 million users by 2025 out of a total population of 37 million.
Bitcoin as a Hedge against Debt Crisis
The adoption of Bitcoin by nations began with El Salvador, which holds 5.93K BTC valued over $549 million, and Bhutan, holding 12.2K BTC worth over $1.1 billion. El Salvador has seen improvements in its bond market and has maintained its external debt obligations.
The U.S. government plans to introduce the Bitcoin Act, proposing the purchase of 1 million BTC over five years. Michael Saylor, founder of MicroStrategy Inc (NASDAQ: MSTR), claims that adopting Bitcoin as a reserve asset could reduce U.S. national debt by over $16 trillion.
Despite having the world's highest GDP, the U.S. spends more than it earns, with its debt recently surpassing $36 trillion. This situation has contributed to the creation of the DOGE program led by Elon Musk aimed at improving government efficacy. If the U.S. adopts Bitcoin as a reserve asset, it may prompt other nations to follow suit, especially since over 19 countries, including Japan and Singapore, have a debt-to-GDP ratio exceeding 100 percent.
Market Impact
Bitcoin's price has benefited from mainstream adoption driven by institutional investors. The cryptocurrency is approaching the psychological target of $100K for the first time, buoyed by recent bullish momentum.
Additionally, Bitcoin’s weekly Relative Strength Index (RSI) has risen above 70 percent for the first time since April.