Polish presidential hopeful Sławomir Mentzen, representing the right-wing Confederation party, has vowed to establish a “strategic bitcoin reserve” and transform Poland into a “cryptocurrency haven” if elected.
On November 17, Mentzen announced on X (formerly Twitter) his intention to partially back Poland’s currency reserves with bitcoin, echoing a similar proposal made earlier this year by U.S. President-elect Donald Trump, who promised to make the U.S. the “crypto capital of the planet.” Trump’s campaign pledge caused a spike in bitcoin prices, and Mentzen aims to follow suit.
Mentzen declared in his post: “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.” The candidate also revealed he personally owns 33.7 bitcoin, valued at nearly $3 million (€2.83 million) at current rates, having invested back in 2013 when the cryptocurrency traded for around $600 (€566) each.
Highlighting his long-standing advocacy for bitcoin, Mentzen reminisced about his 2018 campaign for mayor of Toruń, where he proposed using municipal buildings and schools to “mine” bitcoin while repurposing the heat generated for heating systems. Bitcoin mining, a process requiring substantial computational power, creates considerable heat as a byproduct, which could potentially have dual utility.
A key element of Mentzen’s platform is “freeing cryptocurrencies.” He’s promised to make Poland the EU’s most crypto-friendly nation, creating an attractive legal environment for companies in the industry, though he hasn’t shared specific details on how he plans to achieve this.
Mentzen’s Confederation party unites economic liberals, nationalist conservatives, and traditional-values Catholics. While it secured just over 7% of votes and 18 parliamentary seats in Poland’s 2023 elections, the party’s popularity is growing, with recent polls placing it above 10%.
Despite these gains, Mentzen’s chances of winning the presidency remain slim. However, if he garners more than 10% of the vote and secures a third-place finish in the first round, he and his party could play a pivotal role. The top two candidates—likely from Donald Tusk’s Liberal KO and the opposition Conservatives (PiS)—would need to woo Mentzen’s supporters to secure victory in a potential runoff.
