Poland Presidential Candidate Slawomir Mentzen has recently pitched for a strategic Bitcoin Reserve as part of his election pitch. Drawing a leaf from Donald Trump’s victory in the US presidential election, global leaders have joined the bandwagon. Bitcoin investor Mentzen eyes a similar paradigm shift in Polish elections as BTC price a massive rally over $93,000.
Poland Eyes Strategic Bitcoin Reserve Like United States
In a post on the X platform on November 19, Slawomir Mentzen, the Polish presidential candidate of the KORWiN party, demanded that Poland create its own strategic Bitcoin reserve. Interestingly, Mentzen also proposed having crypto-friendly regulations along with support from the national banks for building this reserve. He wrote:
“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 to the Moon!”
Election in Poland will tentatively happen around May 2025, and hence a Bitcoin push early on could lead to a shift in the course of elections in the coming months. Although Slawomir Mentzen is the candidate of a smaller party, he can gain significant ground with this BTC push.
Several market analysts think that the Bitcoin Game Theory will soon play out among nation-states, creating a snowball effect in no time. In the United States, top Bitcoin leaders like Michael Saylor, and Cynthia Lummis have started pitching President-elect Donald Trump about the importance of having a BTC reserve, and how it can reduce the US national debt by a staggering $16 trillion.
It is clear that leaders across nation-states have started seeing Bitcoin as a crucial reserve asset similar to gold. Senator Cynthia Lummis also proposed that state-federal banks sell some of the gold and use the proceeds to buy BTC.
Słamowir Mentzen Is A Bitcoin Businessman
Amid the strategic Bitcoin Reserve pitching reports, Polish Presidential candidate Slamowir Mentzen revealed that he had invested all his money into Bitcoins a decade before in 2013.
“In 2013, I bought cryptocurrencies with all the funds I had. I went all-in and did very well, but that was 2013,” he said during a conversation on a YouTube channel run by Filip Kowiarski. Furthermore, he also addressed accusations of pursuing others to buy BTC or providing any similar advice. In his interview, he said:
“I have been holding Bitcoins for years, I have been holding cryptocurrencies. I bought them back in 2013, at the beginning of this year I sold a little bit (…), but I hold the vast majority. Some people accuse me of trying to sell cryptocurrencies and saying: buy them. I am absolutely not trying to sell cryptocurrencies to anyone, I have not bought any cryptocurrencies for years, it is a very risky investment”.
BTC Price to Rally Over $100K?
As of press time, the Bitcoin price is trading at $90,547, with a market cap of $1.791 billion. Several market analysts predict BTC will hit $100K by the year-end, however, bulls seem to be taking a wait-and-watch approach. BTC rallied over 32% in a month
Popular crypto analyst Rekt Capital stated that the Bitcoin top hasn’t arrived yet and there’s still 3-4 weeks of rally ahead before calling a top as per the historical trends.
In the 2013, it took 6 weeks of upside into Price Discovery before #BTC experienced any sort of deeper pullback
In the 2017 cycle, BTC rallied 8 weeks into Price Discovery before a deeper pullback
In the 2020/2021 cycle, $BTC rallied 4 weeks into Price Discovery before a deeper…
— Rekt Capital (@rektcapital) November 17, 2024
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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