Key Points
- The Polish Presidential candidate revealed in 2023 that he invested funds in Bitcoin.
- BTC is currently trading at $92,000.
Polish presidential candidate Slawomir Mentzen vowed to adopt a Strategic Bitcoin Reserve if elected, using the Satoshi Act Fund model.
According to the CEO and co-founder of the fund, Dennis Porter, he is just one of the many international politicians and lawmakers poised to endorse the legislation to create a national BTC reserve.
Poland Could Establish a Strategic Bitcoin Reserve
On November 17, Porter shared a post via his X account, highlighting Mentzen’s interest in creating a Strategic Bitcoin Reserve in Poland if he is elected as President.
Mentzen also shared a post via his X account, promising that if he becomes president, the country will become a crypto haven, with friendly regulation, low taxes, and a supportive approach from banks and regulators.
Poland’s presidential elections will be held in May 2025.
A Forbes article from 2023 noted that Mentzen had around 5 million PLN (over $1 million) in BTC.
He would reportedly use the draft bill created by the Satoshi Act Fund which is already on its way to pass in Pennsylvania.
Last week, Porter shared that lawmakers are claiming massive support in the US for a Strategic BTC Reserve legislation.
Yesterday, he announced that the Satoshi Act Fund has open-sourced the model policy and since then, multiple lawmakers and a presidential candidate endorsed the policy and vowed to pass it into law.
Strategic Bitcoin Reserve Model Policy is Open-Sourced
According to the official act, Section 1’s legislative findings mention that inflation eroded the purchasing power of the assets held in state funds managed by the state treasurer and state retirement funds. This erosion is diminishing the value of the state’s reserves, affecting the following:
- Financial stability
- Economic security
- Taxpayers
- Residents
The official notes mention that the state doesn’t have direct control over the national money supply or the policies influencing inflation, but it does have the responsibility to safeguard the financial resources against the impact of inflation and economic uncertainty.
Also, the notes describe how Bitcoin has reached a market cap of over $1 trillion in its 16-year history and is now becoming widely accepted as an international medium of exchange worldwide.
More countries including the US are already holding BTC in their Treasury Dept. and the digital asset is now seen as a hedge against inflation by sovereign nations and investment advisors as well.
This year, Bitcoin recorded an impressive upward trajectory, especially following the US elections, reaching an ATH on November 13, above $93,000.
Now, the digital asset is listed on the 7th spot in the list of the world’s top assets by market cap, recently surpassing silver and Saudi Aramco. Its market cap is currently at $1.82 trillion.
BTC is Trading at $92,000
At the moment of writing this article, BTC is trading above $92,000, up by 1.6% in the last 24 hours.
Today, the coin recorded a significant surge in price from $88,000 levels earlier.
Founder and CEO of Crypto Quant, Ki Young Ju, shared an optimistic post earlier today, revealing that retail investors are coming to the market, with BTC transaction volume under $100,000 hitting a 3-year high.
Institutional interest in BTC also accelerated following the US elections, supporting the digital asset’s price rally. From November 6 to November 13, when BTC hit its ATH, the US BTC ETFs recorded inflows of $4.7 billion.
Now, the cumulative flows in the crypto products are at $27.46 billion since their January inception, SoSoValue data shows.
Bitcoin is supported by multiple favorable factors, and, considering the upcoming changes in crypto policies, the stage is set for the digital asset to reach $100,000 even sooner than 2025, according to the most optimistic predictions.
