Sławomir Mentzen, a presidential candidate in Poland, has vowed to create a Bitcoin reserve after being inspired by U.S. President Elect Donald Trump, who backed Bitcoin to gain political support.
If elected, Sławomir Mentzen, a presidential candidate in Poland, has promised to create a Bitcoin reserve. The Polish Presidential Candidate owns 33.7 Bitcoin worth over $3million.
Prioritizing Bitcoin Reserve Over Delayed Legislation
The presidential candidate had gone on the popular social medium, X (formerly Twitter) to tweet, “Will I, @SlawomirMentzen, create a Bitcoin reserve in Poland? Ofcourse.”
A Bitcoin reserve would help strengthen Poland’s economy by adding diversity to its financial assets. Bitcoin is different because it has only a fixed amount of 21 million coins, making it a strong value store over time. Unlike regular money, Bitcoin isn’t affected by inflation.
Globally, more countries are seeing the value of Bitcoin. El Salvador became the first country to make Bitcoin legal in 2021, and Switzerland is looking into how to use Bitcoin in its financial system. As Trump promised there will be a Bitcoin reserve to hedge against inflation and economic fluctuations in U.S.
Mirroring Trump?
After Mentzen’s tweet, the plan resembles U.S. President elect Donald Trump’s. As Trump has recently endorsed cryptocurrency and Bitcoin especially on his political rallies. When Trump adopted Bitcoin and made regulations, his support for cryptocurrency, especially Bitcoin, highlighted its potential. Mentzen, following in Trump’s footsteps, has promised to adopt a Bitcoin reserve if elected.
If Poland adopts a Bitcoin reserve, it could help with future economic problems. Bitcoin’s value has been increasing and holding it would show that Poland is ready for the future of digital finance.
Mentzen’s plan would also show that Poland is open to new technologies. With the rise of digital finance, having Bitcoin as a reserve could help Poland stay stable and avoid inflation.
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