Key Insights:
- Poland’s new president supports crypto but its central bank refuses to hold Bitcoin as reserves.
- U.S. now holds over 198,000 BTC in a Strategic Reserve, worth over $18 billion.
- Poland applies a 19% flat tax on crypto profits but crypto-to-crypto trades remain tax-neutral
Poland has elected Karol Nawrocki as its next president, following a narrow run-off election on June 1, 2025. Nawrocki, supported by the opposition Law & Justice party, received 50.89 percent of the vote. His liberal opponent, Warsaw Mayor Rafal Trzaskowski, gained 49.11 percent.
Nawrocki’s election signals a change in the presidency, especially regarding digital assets. Although the National Bank of Poland (NBP) has dismissed the idea of holding Bitcoin, the new president has promised to support blockchain innovation and protect the rights of cryptocurrency users.
Poland Crypto-Supportive Campaign Amid Tight Political Balance
In his campaign, Karol Nawrocki highlighted national matters, cherished traditional beliefs and the importance of being free economically. He was largely supportive of new technologies, blockchain and cryptocurrency included.
In a campaign video, Nawrocki stated that he would not support any laws that limit “the freedom of investing,” referring to digital assets. While he admitted he does not personally invest in crypto, he pledged to reduce regulatory burdens on Poland’s crypto industry.
His victory has brought new tension to Poland’s political landscape. Prime Minister Donald Tusk led a centrist coalition working to reverse previous judicial changes, ease abortion laws, and expand rights for LGBTQ+ individuals. Nawrocki is expected to veto many of these reforms, which could stall legislative progress.
Poland’s Crypto Framework and Taxation Policy
Investors are required to declare their gains on the PIT-38 form during the period between February 15 and April 30 each year. While the tax system follows European rules, there are some areas where clarity is missing.
Poland is required by the European Union to enforce the Markets in Crypto-Assets (MiCA) regulation by June 30, 2025. In order to follow the regulation, crypto businesses must get the proper licenses and follow strict standards. A number of firms stated that, because final regulations are not in place, they are in a tough situation.
Even though it is not the president’s role to make laws, Nawrocki’s influence may steer public debates and policymaking in areas of digital rights and technology.
Global Bitcoin Adoption and Trump’s Strategic BTC Reserve
Nawrocki’s victory takes place as various nations rethink how they should handle Bitcoin. Bitcoin became legal tender in El Salvador in 2021. Central African Republic also made the change in 2022. Some other countries, including Argentina and Venezuela, are relying on digital assets to control inflation and to ensure economic stability.
In Europe, the Czech Republic is studying whether to include Bitcoin in its national reserves. In January 2025, the Czech Central Bank began evaluating a proposal that could see up to $7 billion of its reserves invested in crypto. While no final decision has been made, the idea has sparked wide discussion.
At the same time, the United States is making important progress with crypto adoption . In March 2025, Donald Trump, United States President, created a Strategic Bitcoin Reserve through an executive order. According to the reserve, Bitcoin is a national asset, so it should be held for a long period and not sold.
Bitcoin owned by the U.S. government is taken from assets seized in both criminal and civil cases. By the end of May 2025, the government held over 198,000 to 207,000 BTC or $18.3 billion to $21.6 billion, making it the largest known Bitcoin holder globally.
Under the executive order, the government made a Digital Asset Stockpile for Ethereum, XRP, Solana and Cardano alongside Bitcoin. In addition, asset acquisitions from federal seizures go into their own cache, apart from the Bitcoin held by the reserve.
Poland’s Central Bank Maintains Skepticism
Despite Nawrocki’s pro-crypto stance, the National Bank of Poland continues to take a conservative position. In February 2025, NBP President Adam Glapiński said the bank would not hold Bitcoin “under any circumstances.”
“We prefer something certain,” Glapiński said during a press conference. He compared Bitcoin unfavorably to gold, noting that gold increased the value of Poland’s reserves by 22 percent last year.
Although Glapiński acknowledged that Bitcoin can be useful, he said it does not meet the bank’s requirements for safe, stable reserve assets.
