Key Takeaways:
- German MP Joana Cotar criticizes the government’s Bitcoin sell-off, advocating for Bitcoin as a strategic reserve.
- Cotar urges the government to halt Bitcoin sales and develop a comprehensive strategy, including Bitcoin bonds.
- Since June 19, Germany has sold 7,583 Bitcoin, worth $434.9 million, reducing its holdings to 42,274 Bitcoin.
German MP Joana Cotar criticized the German government’s rapid sell-off of Bitcoin, labeling it as “not sensible” and “counterproductive.”
She argues that Bitcoin could diversify Germany’s treasury assets, protect against inflation and currency devaluation, and promote innovation.
#German #MP Joana #Cotar strongly criticized the government's decision to sell #Bitcoin, believing that this move exacerbated market volatility and could have a long-term negative impact on the stability of the cryptocurrency market, and that Bitcoin should be used as a national… pic.twitter.com/gzpOC58GKc
— TOBTC (@_TOBTC) July 5, 2024
Cotar has called for the government to halt the sales and consider adopting Bitcoin as a strategic reserve currency.
She highlighted that since June 19, the German government has sold 7,583 Bitcoin, valued at $434.9 million, reducing its holdings to 42,274 Bitcoin worth approximately $2.4 billion.
JUST IN: 🇩🇪 German Government has started moving #Bitcoin to exchanges again. pic.twitter.com/2GxK61OyAc
— Bitcoin News (@BitcoinNewsCom) July 4, 2024
Cotar suggests developing a comprehensive Bitcoin strategy, including keeping Bitcoin in the state treasury and issuing Bitcoin bonds.
The German government has not confirmed whether it will continue selling its Bitcoin holdings.
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