Bitcoin

German lawmaker Joana Cotar criticized the government for selling Bitcoin, arguing that it increases market volatility. She advocates for using Bitcoin to diversify Germany’s treasury assets, hedge against inflation, and promote innovation.Cotar also opposes the European Central Bank’s Digital Euro, believing it threatens financial freedom and privacy.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/edffaaa0c8c44e6fbc27c41ff6d8ff5f.png" /><h3 id="german-mp-joana-cotar-criticizes-government-s-bitcoin-sale">German MP Joana Cotar Criticizes Government’s Bitcoin Sale</h3>Germany’s federal parliament member, Joana Cotar, has criticized the government’s decision to sell Bitcoin, stating that this move increased market volatility and could have long-term negative effects on the cryptocurrency market.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/68b91fbe986f4f3e8c67f05778026e2c.png" />Cotar believes Bitcoin should be treated as a national strategic reserve. The Bitcoins in question were confiscated from the illegal website Movie2k.to, which accounted for about 50,000 Bitcoins. “I urge you to refrain from a hasty disposal of state-owned Bitcoin,” Cotar emphasized.<h3 id="joana-cotar-advocates-for-bitcoin-as-a-strategic-asset-for-germany">Joana Cotar Advocates for Bitcoin as a Strategic Asset for Germany</h3>Cotar believes Bitcoin can help Germany diversify its treasury assets, serve as a hedge against inflation, and promote innovation. She argued that selling off more Bitcoin is not “sensible” and is “counterproductive” for the country.In her letter, the lawmaker invited four German politicians to the “Bitcoin Strategies for Nation States” event in October, hoping to change their views on Bitcoin.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/97ea4ab144144436adcf2dc04ae5df5b.png" />Joana Cotar’s letter to the German government. Source: <a href="https://x.com/JoanaCotar/status/1808888782738911614" rel="noopener noreferrer nofollow">Joana Cotar</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/edffaaa0c8c44e6fbc27c41ff6d8ff5f.png" />Cotar has consistently highlighted the need to ensure legal security for <a href="https://cryptosheadlines.com/binance-listed-meme-token-joins-forces-with-64-billion-bitcoin-company/" rel="noopener noreferrer nofollow">companies and citizens involved in Bitcoin</a>. She emphasized combating potential risks like money laundering, tax evasion, and other illegal activities, but without stifling innovation. In a speech last year, she stated:“We need to combat potential risks such as money laundering, tax evasion, and other illegal activities associated with Bitcoin. But without stifling innovation and the freedom aspects of Bitcoin.”<a href="https://cryptosheadlines.com/terra-classic-draws-attention-with-recent-market-moves/" rel="noopener noreferrer nofollow">Also Read: Terra Classic Draws Attention with Recent Market Moves</a>To increase awareness and <a href="https://cryptosheadlines.com/peter-thiel-supports-bitcoin-startup-river-with-35m-investment/" rel="noopener noreferrer nofollow">support for Bitcoin</a> in the German parliament, Cotar initiated the “Bitcoin in the Bundestag” program. This initiative plans to <a href="https://cryptosheadlines.com/el-salvador-aims-to-introduce-bitcoin-education-in-public-schools/" rel="noopener noreferrer nofollow">educate her colleagues about the benefits of Bitcoin</a> so they can make informed decisions. She added:“We <a href="https://cryptosheadlines.com/bitcoin-needs-98000-for-miners-sustainability-in-2024/" rel="noopener noreferrer nofollow">need to promote the freedom aspects of Bitcoin</a>. This includes protecting privacy, ensuring security standards, and preventing excessive regulation to maximize the benefits of Bitcoin.”<h3 id="joana-cotar-stresses-bitcoin-s-unique-role-and-criticizes-digital-euro">Joana Cotar Stresses Bitcoin’s Unique Role and Criticizes Digital Euro</h3>Cotar is exclusively focused on Bitcoin and has little interest in other cryptocurrencies. She stressed the importance of establishing a formal Bundestag committee that recognizes the technological differences between Bitcoin and other crypto assets.The lawmaker has also been a vocal critic of the European Central Bank’s (ECB) digital currency plans. Recently, she publicly opposed the <a href="https://cryptosheadlines.com/digital-euro-expected-to-become-reality-in-3-4-years/" rel="noopener noreferrer nofollow">Digital Euro</a>, questioning its necessity.Last year, Cotar wore a Bitcoin shirt while giving a speech against the Digital Euro, stating, “Nobody needs the digital euro. Except for one ECB and politicians who have something else in mind.”<img src="https://academy-public.coinmarketcap.com/optimized-uploads/99495f6ba5c542b5ba18a5a38778730f.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

German Lawmaker Criticizes Government’s Bitcoin Sale

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Jul 5, 2024

The Bitcoin Price Plunges Below $56K Amid Mt. Gox Selloff Fears And Massive Liquidations, But Tra...

Bitcoin’s quick dip below $57k forces beginners to capitulate, CryptoQuant says

Get Free Tokens: Best Airdrops 2024

Binance Celebrates 7 Years with “Be Binance” Campaign

Why is Crypto Crashing? What Next For Bitcoin Price?

Global Bitcoin ATM Network Flinch by 443 Machines Amid Falling Prices

Join our free newsletter for daily crypto updates!