Polish minister advocates support for Bitcoin strategic reserve

Polish minister and presidential candidate Sławomir Mentzen has promised to create a Bitcoin reserve and make Poland more crypto-friendly if elected in 2025.

According to a Nov. 17 X post, Mentzen doubled down on his previous remarks made in response to a proposal from Lech Wilczynski, CEO of Swap.ly, about adopting the crypto advocacy group Satoshi Action Fund’s Strategic Bitcoin Reserve model.

Wilczynski suggested that The Satoshi Action Fund’s open-source model could serve as a framework for Poland to establish a national Bitcoin reserve, emphasizing that “there is no point in waiting” and urging that the draft bill for the reserve “should go first before it is too late.” 

Responding to this, Mentzen said, “of course,” and in subsequent posts, outlined his vision to transform Poland into a “cryptocurrency haven” with supportive regulations, lower taxes, and support from banks and regulators.

“BTC to the Moon,” Mentzen continued.

In his latest post, Mentzen reflected on his 2018 campaign for the mayor of Toruń, where he proposed using municipal offices and schools to mine Bitcoin while repurposing the heat generated for building heating.

He noted that at the time, Bitcoin was priced at around $7,000, and his idea was dismissed as absurd. However, with Bitcoin (BTC) now nearing $100,000, he says his proposal has proven to be forward-thinking.

Building on this vision, Mentzen advocated for Poland to diversify its currency reserves to include Bitcoin, acknowledging that while the idea may seem unconventional now, it could become an obvious decision in the years to come.

“It is high time for Polish politicians to also look to the future and not just deal with the past. We do not have to imitate others forever. We can finally set new directions ourselves and be role models for others. Poles deserve a modern state,” he wrote.

Mentzen’s comments mirror President-elect Donald Trumo’s campaign promise during a July 2024 speech where he vowed to establish a Bitcoin reserve in the U.S. Subsequently, Senator Cynthia Lummis introduced a bill that proposed acquiring one million BTC over a period of five years.

Several experts have suggested that if the United States proceeds with establishing a strategic Bitcoin reserve, it could ignite a BTC arms race among sovereign nations. Others, like Michael Saylor, believe it could fuel more demand for the flagship cryptocurrency.