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Poland Presidential Candidate Calls for Bitcoin Reserve In Election Pitch

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Poland Presidential Candidate Slawomir Mentzen has recently pitched for a strategic Bitcoin Reserve as part of his election pitch. Drawing a leaf from Donald Trump’s victory in the US presidential election, global leaders have joined the bandwagon. Bitcoin investor Mentzen eyes a similar paradigm shift in Polish elections as BTC price a massive rally over $93,000.

Poland Eyes Strategic Bitcoin Reserve Like United States

In a post on the X platform on November 19, Slawomir Mentzen, the Polish presidential candidate of the KORWiN party, demanded that Poland create its own strategic Bitcoin reserve. Interestingly, Mentzen also proposed having crypto-friendly regulations along with support from the national banks for building this reserve. He wrote:

“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. BTC to the Moon!”

Election in Poland will tentatively happen around May 2025, and hence a Bitcoin push early on could lead to a shift in the course of elections in the coming months. Although Slawomir Mentzen is the candidate of a smaller party, he can gain significant ground with this BTC push.

Several market analysts think that the Bitcoin Game Theory will soon play out among nation-states, creating a snowball effect in no time. In the United States, top Bitcoin leaders like Michael Saylor, and Cynthia Lummis have started pitching President-elect Donald Trump about the importance of having a BTC reserve, and how it can reduce the US national debt by a staggering $16 trillion.

It is clear that leaders across nation-states have started seeing Bitcoin as a crucial reserve asset similar to gold. Senator Cynthia Lummis also proposed that state-federal banks sell some of the gold and use the proceeds to buy BTC.

Słamowir Mentzen Is A Bitcoin Businessman

Amid the strategic Bitcoin Reserve pitching reports, Polish Presidential candidate Slamowir Mentzen revealed that he had invested all his money into Bitcoins a decade before in 2013.

“In 2013, I bought cryptocurrencies with all the funds I had. I went all-in and did very well, but that was 2013,” he said during a conversation on a YouTube channel run by Filip Kowiarski. Furthermore, he also addressed accusations of pursuing others to buy BTC or providing any similar advice. In his interview, he said:

“I have been holding Bitcoins for years, I have been holding cryptocurrencies. I bought them back in 2013, at the beginning of this year I sold a little bit (…), but I hold the vast majority. Some people accuse me of trying to sell cryptocurrencies and saying: buy them. I am absolutely not trying to sell cryptocurrencies to anyone, I have not bought any cryptocurrencies for years, it is a very risky investment”.

BTC Price to Rally Over $100K?

As of press time, the Bitcoin price is trading at $90,547, with a market cap of $1.791 billion. Several market analysts predict BTC will hit $100K by the year-end, however, bulls seem to be taking a wait-and-watch approach. BTC rallied over 32% in a month

Popular crypto analyst Rekt Capital stated that the Bitcoin top hasn’t arrived yet and there’s still 3-4 weeks of rally ahead before calling a top as per the historical trends.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Donald Trump Needs To Create A Strategic US Bitcoin Reserve

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5 hours ago

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November 18, 2024

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Donald Trump’s recent election victory has reignited discussions around his campaign promise to establish a strategic US Bitcoin reserve. Although the proposal remains unimplemented, it has sparked curiosity about whether this will actually happen, what such a BTC reserve could entail, and how it might function if brought to fruition.

 The conversation, inspired by Donald Trump’s campaign promises to base Bitcoin as a centerpiece in US economic policy, outlined the current relevance of Bitcoin on the world stage and how it might compare to traditional assets such as gold. Anthony Pompliano, founder & CEO of Professional Capital Management and ardent supporter of Bitcoin, presented his thoughts about the United States and its potential as an adopter of Bitcoin to be held as a strategic BTC reserve.

Will Donald Trump Create The US Bitcoin Reserve? Pompliano Weighs In

Anthony Pompliano, founder & CEO of Professional Capital Management emphasized the strategic necessity of creating US Bitcoin Reserve, given how different countries, such as El Salvador and Bhutan, have already welcomed Bitcoin into their national reserves.

Pompliano signaled the need for urgency within the US to take action, stating that although Bhutan is currently not a major global economy, the country’s proactive approach toward Bitcoin can easily make it a significant player in the future. Bhutan’s BTC holdings just recently increased to over $1 billion.

The market expert also said the same goes for El Salvador, as it could become a global economy thanks to its Bitcoin exposure. Speaking further on the need to create the Bitcoin reserve, Pompliano said, “This asset (Bitcoin) is so asymmetric. If it continues to compound, it will translate into billions of dollars on their balance sheets while the US struggles with a growing national debt.”

During one of his pre-election speeches at the Bitcoin conference in July, Donald Trump promised that under his government, the US would retain all the Bitcoin in possession in order to create a US Bitcoin Reserve for the “good of all Americans”.

Even though there are still questions regarding the final outcome, the idea evolved into what has since become known among cryptocurrency enthusiasts as a strategic US Bitcoin reserve, with some, such as Senator Cynthia Lummis, proposing a gold sale to acquire up to 1M Bitcoins. At today’s market prices, such a BTC reserve would be worth more than $90 billion, placing the US as a hegemon in the Bitcoin economy.

Bitcoin to Eclipse Gold as the Ultimate Store of Value

A Strategic US Bitcoin Reserve would serve as a government-held asset designed to bolster economic resilience during periods of financial instability. By leveraging Bitcoin’s decentralized nature and scarcity, such a BTC reserve could potentially act as a hedge against inflation, currency devaluation, and global economic disruptions. Donald Trump’s approach aligns with the growing recognition of Bitcoin as a “digital gold” and its increasing adoption by nations seeking financial sovereignty.

Pompliano went on to parallel Bitcoin to gold, adding that while Bitcoin currently maintains a market capitalization of around $1.7 trillion, gold stands at $17 trillion. He said that as a digital asset, Bitcoin would overtake gold’s market capitalization because of its advantage as a digital store of value.

“There’s not an example where the digital product doesn’t outsize its analog counterpart,” Pompliano said. He made the case that Bitcoin’s first and foremost use case-store of value solves a global problem: preserving wealth from inflation and currency devaluation. Whereas central banks constantly devalue fiat currencies, he said, Bitcoin is a deflationary, capped alternative that gives individuals and countries a choice.

Pompliano further explained how that might trickle down from Donald Trump’s strategy of establishing a US Bitcoin reserve: If the United States puts cash into Bitcoin, that means every state and local government should also allocate their reserves to Bitcoin. “You’re sitting with cash that’s guaranteed to lose value. If you want to fulfill your fiduciary duty, sitting in 100% cash is the wrong answer,” he said. 

He cited MicroStrategy’s success under Michael Saylor’s leadership, who recently acquired an additional 27,200 BTC, stating that large institutional onboarding into Bitcoin provided protection from inflation. Pompliano further called for all levels of government to “get off zero” and consider a minimum allocation to Bitcoin of at least 1%.

Novogratz: BTC Reserve Unlikely, But Could Propel Price to $500K

Michael Novogratz, the billionaire CEO of Galaxy Digital, expressed skepticism about the strategic adoption of a US Bitcoin reserve idea, despite President-elect Donald Trump’s proposal. He specified that there were low chances for the BTC reserve under Trump.

However, he acknowledged the potential strategic value of such a move. “It would be very smart for the United States to take the Bitcoin they have and maybe add some to it,” he suggested. “That would signal to the world that we are a technology-first country, a crypto, digital asset-first country. I don’t necessarily think that the dollar needs anything to back it up, but it would make a statement.”

Novogratz predicted that if there will be a US Bitcoin reserve establishement, it could trigger a massive rally in the digital asset’s price. “If we get the BTC reserve, as a guy who owns a lot of Bitcoin, I won’t cry,” he quipped. “I think Bitcoin heads to $500,000. It’s a different paradigm because it forces every other country in.”

Bitcoin, currently trading near a record $90,291, could see unprecedented growth if this proposal were enacted, pushing the cryptocurrency further into the global financial spotlight.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s How High XRP Price Could Rise After Crossing $1

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8 hours ago

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November 17, 2024

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Crypto analyst Egrag Crypto has provided insights into how high the XRP price could rise following its rally above $1. XRP’s rally above $1 marked a two-year high for the crypto, which had before now remained stagnant even while the broader crypto market enjoyed significant gains.

XRP Price To Rally To $4 After Breakout Above $1

In an X post, Egrag Crypto predicted that the XRP price could rally to as high as $4.96 following the breakout above $1. This came as he analyzed XRP’s market cap and explained why it could reach $1.83 trillion. He noted that the market cap is closing above Fib 0.07 ($51.35 billion) and has reached Fib 0.786 ($60.06 billion).

The analyst also revealed that XRP is breaking through a multi-year ascending trendline that goes back to 2017. He remarked that this is super bullish for the crypto. Egrag Crypto said that a monthly candle close above the Fib 0.786 would lead to a confirmed market cap of $283.42 billion (Fib 1.618), which would be next for the XRP price. A market cap of $283.42 billion would put XRP at $4.96.

In the short term, Egrag Crypto said that the goal for this week is for XRP to close the partial weekly candle above $1.10. His accompanying chart showed that a close above this candle could further confirm the rally to $4.96 and even higher.

Amid this price prediction, it is worth mentioning that XRP whales are actively accumulating the coin, which presents a bullish outlook since these whales could also contribute to a sustained price rally. These XRP whales have bought over 320 million XRP in the last 72 hours.

Meanwhile, in an X post, crypto analyst Javon Mark predicted that another $190% rally to XRP’s current all-time high (ATH) was loading. He indicated that the crypto would break well above $3.3 once it reaches its current ATH.

A Repeat Of The 2017 Bull Run

Crypto analyst Charting Guy suggested that the XRP price could replicate its 2017 bull run. In an X post, the analyst stated that the XRP monthly Bollinger bands are finally expanding and giving the 2017 vibes. In 2017, the crypto rallied by over 61,000%, eventually hitting its current ATH the following year.

Crypto analyst Mikybull Crypto also suggested that the XRP price could replicate its 20217 bull run. He stated that his technical analysis instinct was telling him that XRP would pull a hated rally like 2017. His accompanying chart shows that XRP could rally above $5 when this hated rally occurs.

Ripple CEO Brad Garlinghouse recently cited the imminent pro-crypto policies under Donald Trump as one of the reasons for XRP’s recent rally. The crypto is up over 100% in the last seven days amid rumors that the US SEC Chair could resign soon enough, a development which further presents a bullish outlook for XRP.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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D.O.G.E. Is Crucial for Fighting US Inflation

Published

14 hours ago

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November 17, 2024

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The naming of the Department of Government Efficiency, D.O.G.E., under the forthcoming administration of Donald Trump, has caused much debate especially when it comes to US inflation – Tyler Winklevoss. Tyler, the co-founder of Gemini, commented on D.O.G.E., which proposed to root out government waste and fight US inflation that rose over 2.6%. He has insisted that such initiatives are crucial in the fight against the “silent tax” of inflation, which affects poor Americans most.

D.O.G.E. Is Crucial to Combat Inflation’s ‘Regressive Pressure’

The announcement of the Department of Government Efficiency (D.O.G.E.) under a potential Trump administration has sparked considerable debate. Tyler Winklevoss, co-founder of Gemini, weighed in on the proposed initiative, which aims to eliminate wasteful government spending and tackle the price rise. US inflation rose by 2.6% year-over-year last month, slightly up from September.

He emphasized the importance of addressing the price rise, a “silent tax” that disproportionately burdens low-income Americans, arguing that such measures are essential for economic fairness and sustainability.

Be it as it may, Tyler Winklevoss, who recently criticized SEC Chair Gary Gensler, calling him evil, said now that inflation requires a more innovative approach to manage because it works to destroy wealth and exert regressive pressure on economies, particularly those that are ill-equipped to bear it.

Winklevoss statement on D.O.G.E.Winklevoss statement on D.O.G.E.

The Department aims to reduce federal inefficiencies, but its potential impact on US inflation remains a main subject. Critics suggest that the lack of clear governmental power could limit D.O.G.E.’s ability to tackle it effectively.

Previously, Tyler severely criticized the Chairman of the SEC, Gary Gensler, over his approach to regulating cryptocurrencies. Specifically, he exclaimed that Gensler should be permanently removed from any positions of influence, claiming he undermined the crypto industry to further his political ambitions.

Meanwhile, the US dollar is constantly weakened as a store of value because of the increase in the money supply by the Federal Reserve. Keeping these factors in mind, the Winklevoss brothers are of the view that Bitcoin is going to grow significantly.

This is upon the basis of the fact that its adoption—majorly by central banks—could see a spike in price, probably up to $500,000 per coin. Just for comparison, regarding the inflation, recently Peter Brandt predicted Bitcoin to go bullish, suggesting that the crypto could hit new highs in the coming days.

Tyler Winklevoss Urges Action on Inflation’s Impact on Low-Income Americans

The US inflation rose by 2.6% year-over-year last month, slightly up from September. This follows a series of rate cuts by the Federal Reserve. These cuts aimed to address cooling prices and a weaker labor market. The October Consumer Price Index (CPI) met predictions and marked a rise from September’s 2.4%. This increase coincided with a 0.5 percentage point rate cut and a second reduction in November.

The Winklevoss twins were describing some unique attributes that set Bitcoin apart: its immutable supply of 21 million coins creating scarcity and a decentralized system offering security and protection against physical seizure. Such qualities make it “digital gold” or “gold 2.0.”

Tyler Winklevoss views Bitcoin’s scarcity and decentralization as key solutions to counter inflation and protect against economic instability. He advocates for embracing innovative financial tools to ensure equitable opportunities in the face of rising costs.

In contrast to more traditional inflationary hedges such as oil, gold, and the US dollar, Bitcoin is resistant to geopolitical volatility and central bank manipulation. Whereas oil, though necessary, undergoes price discrepancies, gold faces practical challenges regarding transportation and the risk of confiscation.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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