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
France Faces Rising Wave of Crypto-Related Kidnappings

France has seen a significant increase in kidnappings linked to crypto assets, with 41 cases reported this year.

Ethereum Network Solidifies Its Role as Core Settlement Layer

The Ethereum network is experiencing a significant surge in activity, reinforcing its status as a core settlement layer in the digital economy.

US DOJ Joins xAI in Legal Battle Against Colorado's AI Regulation

The US Department of Justice intervenes in xAI's lawsuit against Colorado, challenging the state's AI regulation law SB24205.

Charles Hoskinson Advocates for Structural Changes in Cardano's Infrastructure

Charles Hoskinson advocates for structural changes in Cardano's infrastructure to reduce reliance on centralized offchain services.

South Korean Man Arrested for Posting Fake Wolf Image

A South Korean man was arrested for posting a deceptive AI-generated image of a wolf, misleading officials and triggering an emergency alert.

Bitcoin Profitability Metrics Reflect Market Corrections

Current profitability metrics for Bitcoin show a mixed outlook, with only about 52.3% of Bitcoin addresses currently in profit.

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