The future of Poland's Bitcoin reserves under the new president

Poland has elected Karol Nawrocki as the next president following a contentious election on June 1, 2025. Nawrocki, supported by the opposition Law and Justice Party, received 50.89% of the votes. His opponent from the Liberal Party, Mayor of Warsaw Rafal Trzaskowski, received 49.11%.

Karol Nawrocki – New President of PolandNawrocki's election marks an important turning point in the presidency, especially in the field of digital assets. Although the National Bank of Poland (NBP) has rejected the idea of holding Bitcoin, the new president has promised to support blockchain innovation and protect the rights of crypto users.

Crypto Support Campaign in Poland

In his campaign, Karol Nawrocki emphasized national issues, cherished traditional values, and the importance of economic freedom. He primarily supports new technologies, including blockchain and cryptocurrencies.

In a campaign video, Nawrocki stated that he does not support any laws restricting "freedom of investment," referring to digital assets. Although he admitted that he himself does not invest in cryptocurrency, he is committed to alleviating the regulatory burden on Poland's crypto industry.

His victory has brought new tensions to the political landscape in the country. Prime Minister Donald Tusk is working to reverse previous judicial changes, relax abortion laws, and expand rights for LGBTQ+ individuals. Nawrocki is expected to veto many reforms, which may slow down the legislative process.

Legal Framework and Cryptocurrency Tax Policy in Poland

Investors are required to declare profits using the PIT-38 form from February 15 to April 30 each year. Although the tax system complies with European regulations, there are still some areas that lack clarity.

Poland has been requested by the European Union to implement the Market in Crypto-Assets Regulation (MiCA) by June 30, 2025. To comply with this regulation, crypto businesses must have the appropriate licenses and adhere to strict standards. Some companies have stated that, due to the final regulations not yet being issued, they are facing difficulties.

Although the President does not have the power to enact laws, Nawrocki's influence could steer public debates and policy-making in areas of digital rights as well as technology.

Global Bitcoin Adoption Trends and Trump's Strategic Reserves

Nawrocki's victory comes at a time when many countries are reconsidering how to handle Bitcoin. Bitcoin became legal tender in El Salvador in 2021. The Central African Republic also made this change in 2022. Several other countries, including Argentina and Venezuela, are relying on digital assets to control inflation and ensure economic stability.

In Europe, the Czech Republic is studying the possibility of including Bitcoin in its national reserves. In January 2025, the Czech Central Bank began evaluating a proposal that could invest up to $7 billion from its reserves in cryptocurrencies. Although no final decision has been made yet, the idea has sparked a lot of discussion.

At the same time, the United States is making significant progress in the acceptance of cryptocurrencies. In March 2025, President Donald Trump established the Strategic Bitcoin Reserve through an executive order. According to this reserve, Bitcoin is considered a national asset, so it should be held for a long period of time and not be sold.

The Bitcoin owned by the U.S. government is derived from seized assets in both criminal and civil cases. By the end of May 2025, the government had held over 198,000 to 207,000 BTC, equivalent to $18.3 billion to $21.6 billion, making it the largest known Bitcoin holder globally.

According to the executive order, the government has created a digital asset repository for ETH, XRP, SOL, and ADA alongside Bitcoin. Additionally, assets obtained from federal seizures will be placed into a separate vault, distinct from the Bitcoin held by reserves.

The Polish central bank maintains a skeptical stance

Although Nawrocki supports cryptocurrency, the National Bank of Poland still maintains a conservative stance. In February 2025, NBP President Adam Glapiński stated that the bank would not hold Bitcoin "in any form."

"We like things that are certain," Glapiński said at a press conference. He compared Bitcoin to gold, noting that gold has increased Poland's reserve value by 22% over the past year.

Although Glapiński acknowledges that Bitcoin can be useful, it does not meet the bank's requirements for safe and stable reserve assets.

Dinh Dinh