German Lawmaker Voices Concerns Over Bitcoin Sale
Joana Cotar, a German parliament member, has criticized the government's decision to sell Bitcoin, citing potential market volatility and long-lasting impacts on the cryptocurrency market. She argues that Bitcoin should be utilized as part of Germany's strategic reserve rather than hastily sold off.
Cotar emphasizes the importance of diversifying Germany's treasury assets, using Bitcoin as a hedge against inflation, and fostering innovation. Contrary to the government's actions, she believes that selling additional Bitcoin is counterproductive.
In a letter addressed to fellow politicians, Cotar invites them to an event titled 'Bitcoin Strategies for Nation States' in an effort to reshape their perspectives on Bitcoin.
Bitcoin as a Strategic Asset for Germany
According to Cotar, Bitcoin holds the potential to play a crucial role in diversifying Germany's asset portfolio, safeguarding against inflation, and driving innovation within the country. She urges caution in the disposal of state-owned Bitcoin, arguing for a more nuanced approach rather than quick liquidation.
The lawmaker, known for her advocacy for legal security within Bitcoin activities, stresses the importance of mitigating risks like money laundering and tax evasion while preserving the innovative essence of Bitcoin.
To raise awareness and garner support for Bitcoin within the German parliament, Cotar spearheaded the 'Bitcoin in the Bundestag' program to educate her colleagues about the benefits and freedom aspects of Bitcoin.
Divergence from the Digital Euro
In her focus solely on Bitcoin, Cotar distinguishes it from other cryptocurrencies and pushes for a dedicated parliamentary committee to recognize Bitcoin's unique technological attributes. She is an outspoken critic of the European Central Bank's Digital Euro proposal, questioning its relevance and necessity.
Cotar's stance against the Digital Euro is evident in her public opposition and symbolic gestures, such as wearing a Bitcoin-themed shirt during speeches criticizing the ECB's digital currency initiative.
Disclaimer: This article serves to inform and does not provide legal, tax, investment, financial, or any other form of advice.
