Joana Cotar, an independent member of the Bundestag, recently challenged the German government’s approach to selling Bitcoin on a large scale. In a bold move, Cotar raised concerns to key figures such as Michael Kretschmer, vice-president of the CDU, Christian Lindner, Federal Minister of Finance, and Chancellor Olaf Scholz, criticizing the practice as “counterproductive.”
In a comprehensive letter, Cotar underscored Bitcoin’s benefits, asserting that the cryptocurrency presents a “unique opportunity” for diversifying assets and hedging risks associated with traditional asset classes. She argued that Bitcoin also shields against inflation and currency devaluation due to its limited supply.
Moreover, known for her advocacy of Bitcoin, the parliamentarian emphasized the digital currency’s potential to foster innovation, economic sovereignty, and technological advancement. She will elaborate on this vision during a forthcoming discussion on October 17th, featuring Bitcoin evangelist Samson Mow.
The controversy is magnified by the fact that the German government, following an operation against the piracy site Movie2k.to over a decade ago, became one of the largest holders of Bitcoin. This historic accumulation of cryptocurrencies has taken on new significance, with reports from PeckShieldAlert indicating that an additional 1,300 BTC were recently transferred by the government to multiple exchanges, heightening selling pressures on the market.
Disclaimer: The opinions expressed by the author and individuals mentioned in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries inherent risks of financial loss.
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