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
ICP Falls Below 433 Support, Causing Market Volatility

The Internet Computer (ICP) has recently fallen below the critical support level of 433, leading to increased selling pressure and market volatility.

Ethereum Layer-2 Solutions Raise $7 Billion Amid Market Shifts

Ethereum's Layer-2 solutions have raised $7 billion, showcasing significant investment in real-world applications amidst changing market dynamics.

Regulatory Pressure Mounts on Crypto ATMs Amid Fraud Concerns

US regulators and local governments are increasing scrutiny and imposing restrictions on crypto ATMs due to rising fraud complaints.

Bitcoin Munari Launch Strategy Integrates Bitcoin and Solana

Bitcoin Munari combines Bitcoin's fixed supply model with Solana's performance characteristics to create a unique digital asset.

Bitcoin Munari's Validator System Enhances Participation

The validator system of Bitcoin Munari combines predictable economics with accessible participation routes, allowing users to engage in the network through various staking options.

Aerodrome Finance Investigates DNS Hijacking Incident

Aerodrome Finance is investigating a DNS hijacking incident that redirected users to phishing sites, while smart contracts remain secure.

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