Quick Takes:
- Joana Cotar argues against selling off Germany’s Bitcoin stash.
- Invites top officials to a Bitcoin-centric event with Samson Mow on Oct. 17.
Yello Paradisers! Could the German government’s decision to offload its Bitcoin stash be a financial blunder of epic proportions? Joana Cotar, an independent Bundestag member, thinks so, and she’s sounding the alarm.
German MP Joana Cotar Calls for Halt
Joana Cotar, an independent member of the German Bundestag, has raised her voice against the government’s ongoing Bitcoin sales, labeling the actions as “counterproductive.” In a recent plea to key political figures including Michael Kretschmer, Christian Lindner, and Chancellor Olaf Scholz, Cotar highlights Bitcoin’s potential as a diversified asset that could shield the economy from traditional financial vulnerabilities and inflation.
Economic and Innovative Potential
Cotar is not just criticizing; she’s actively promoting Bitcoin as a tool for fostering economic sovereignty and technical innovation. Her advocacy for Bitcoin includes a previous legislative attempt to emulate El Salvador by proposing Bitcoin as legal tender in Germany, a move that indicates her commitment to integrating crypto into Germany’s financial system.
Impact of Government Sales
The backdrop to Cotar’s urgent calls is the recent large-scale Bitcoin disposals by the German government, actions traced by entities like PeckShieldAlert. These sales, transferring substantial Bitcoin volumes to exchanges, have been linked to price pressures on the crypto market, with Bitcoin’s value taking a noticeable hit.
Cotar’s Stance on Cryptocurrency’s Role
Asserting the value of Bitcoin beyond mere investment, Cotar sees the cryptocurrency as a cornerstone for future economic resilience and a beacon of innovation. Her scheduled talk with Bitcoin evangelist Samson Mow is set to further this discussion, potentially influencing more in the political sphere to reconsider the rapid unloading of Bitcoin assets.
