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
2 years ago

Other news
ECB Advocates for Centralized Oversight of Crypto Markets

The European Central Bank supports a proposal to centralize oversight of financial markets, including crypto, to enhance competitiveness and harmonize regulation across the EU.

Blockchain for Europe Advocates for Reforms in EU Crypto Regulations

Blockchain for Europe has released a report advocating for reforms to the EU's crypto framework to enhance the competitiveness of euro-denominated stablecoins.

Evan Tangeman Sentenced to Six Years for Bitcoin Scam Involvement

Evan Tangeman has been sentenced to six years in prison for his involvement in a scam that stole over 263 million in Bitcoin.

DOJ Seizes Over 700 Million in Bitcoin in Fight Against Crypto Scams

The Department of Justice has seized over 700 million in Bitcoin linked to money laundering from crypto scams.

Federal Judge Dismisses Lawsuit on Crypto Crowdfunding Tool

A federal judge dismissed a lawsuit regarding the legal status of a cryptobased crowdfunding tool, raising questions about the government's stance on crypto regulation.

RLUSD Adoption Accelerates Under GENIUS Act

The adoption of RLUSD is rapidly increasing following the implementation of the GENIUS Act, which provides a federal framework for stablecoins in the US.

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