Joana Cotar, an independent member of the Bundestag, has called on the government to cease its Bitcoin selling activities. Cotar's message to key officials like Michael Kretschmer and Christian Lindner highlights the counterproductive nature of the current approach. She has extended an invitation to a lecture featuring Bitcoin advocate Samson Mow on October 17th. In her communication, Cotar emphasizes that Bitcoin presents a unique avenue for diversification, reducing risks associated with traditional asset concentrations. She asserts that Bitcoin's scarcity positions it as a hedge against inflation and currency devaluation. Additionally, Cotar underlines the potential of Bitcoin to spur innovation, economic independence, and technological advancement. Notably, in 2023, Cotar introduced a bill proposing Bitcoin's recognition as legal tender in Germany, following El Salvador's lead. Recent actions by the German government, as highlighted by reports, involved significant BTC sales, potentially impacting Bitcoin's performance negatively. The government's increased BTC holdings, stemming from past efforts against piracy, have contributed to selling pressure on Bitcoin. Recent reports indicate further BTC transfers by the German government to exchanges, adding to the downward pressure.
Germany Urged to Halt Bitcoin Selling Spree

by Giorgi Kostiuk
a year ago

Other news
Solana's Unique Technology and Features

Solana utilizes a unique mechanism called Proof of History (PoH) combined with Proof of Stake (PoS) to confirm transactions efficiently.

Singapore Gulf Bank Partners with Fireblocks for Secure Digital Custody

Singapore Gulf Bank has partnered with Fireblocks to ensure the security of digital transactions and protect client funds using advanced cryptography.

Apeing Emerges as a Promising 100x Meme Coin Opportunity

Apeing is gaining attention as a potential 100x meme coin due to its limited whitelist access and structured pricing.

Margin Optimization Techniques for Institutional Hedgers

Effective margin management is crucial for minimizing collateral costs in derivative positions.

Dynamic Basis Ratio Adjustments for Effective Hedging

Dynamic hedging protocols allow for continuous adjustments to hedge ratios based on market conditions.

Synthetic Futures: A Flexible Risk Transfer Solution

Synthetic futures contracts provide a way to achieve forward contract payoffs without counterparty risks.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter