Polish Presidential Candidate Takes cues from Trump: Mentzen Promises Bitcoin Reserves
Slawomir Mentzen, preparing for the presidential elections in Poland, announced that he would create a Bitcoin reserve if elected. He stated that he shaped this strategy by taking inspiration from leading Bitcoin advocates in the United States, seemingly influenced by Donald Trump's support for Bitcoin during his presidency. In a post on X, Mentzen emphasized that he would consider Bitcoin as a strategic asset to contribute to Poland's economic recovery.
Amid financial instability and rising debt-to-income ratios, Mentzen is seeking alternative ways to strengthen Poland's economy, suggesting that a Bitcoin reserve could play a significant role in this process. The candidate, known to own 33.7 Bitcoins, declared that his country would become a haven for cryptocurrencies, offering friendly regulations and low taxes. However, it is noted that Poland, as a member of the European Union, may encounter certain restrictions regarding crypto assets.
As signals from the U.S. indicate a Bitcoin strategy, the upward trend continues. Successful Bitcoin policies in the U.S. are leading other countries to take similar steps. Trump’s consideration of Bitcoin as a national reserve during his presidency increased interest in Bitcoin in the U.S. Following that, Pennsylvania state greenlighted a new bill last week to invest 10% of state funds into the Bitcoin market. This development is thought to contribute to the appreciation of Bitcoin.
As global adoption of Bitcoin rises, this trend is also influencing Bitcoin's market valuations. Institutional investments led by major firms such as MicroStrategy and BlackRock are creating a favorable environment for Bitcoin. Consequently, as Bitcoin's price index approaches record levels, experts maintain their forecasts that the $100,000 level could be surpassed in the coming weeks.
Current Status of Bitcoin
After recent developments, Bitcoin started the new week positively, moving towards $92,000 with an increase of over 2%, following a period of horizontal movement between $89,000 and $91,000 during weekend trading. However, it has been observed that Bitcoin continues to face resistance at around $91,800, the level it reached mid-last week. The largest cryptocurrency begins the new week by testing this resistance level.