Joana Cotar, an independent member of the Bundestag, recently took a bold stance against the German government’s strategy of selling Bitcoin on a large scale. Cotar, in an audacious move, reached out to prominent figures such as Michael Kretschmer, vice-president of the CDU, Christian Lindner, Federal Minister of Finance, and Chancellor Olaf Scholz, to voice her concerns about this practice, which she described as “counterproductive”.
In a detailed letter, Cotar highlighted the numerous advantages of Bitcoin, arguing that the cryptocurrency offers a “unique opportunity” for asset diversification and serves as a hedge against risks associated with traditional asset classes. She emphasized that Bitcoin also acts as a shield against inflation and monetary devaluation due to its scarce nature.
Cotar, known for her support for Bitcoin, further stressed that digital currency has the potential to drive innovation, enhance economic sovereignty, and foster technical progress. She will delve deeper into this vision during a talk scheduled for October 17th, featuring renowned Bitcoin evangelist Samson Mow.
The controversy surrounding the German government’s selling of Bitcoin becomes even more significant when considering that they became one of the largest holders of the cryptocurrency following an operation against the piracy website Movie2k.to over a decade ago. This historic accumulation of cryptocurrencies has taken on new dimensions today, with reports from PeckShieldAlert revealing that the government recently transferred an additional 1.3K BTC to various exchanges, thereby intensifying selling pressure on the market.
Disclaimer: The views and opinions expressed by the author, as well as those mentioned in this article, are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading in cryptocurrencies carries the risk of financial loss.
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