German Deputy Calls for Bitcoin to be Recognized as a Strategic Reserve Currency
Joana Cotar, a German deputy and Bitcoin activist, has urged the German government to reconsider their approach to Bitcoin sales. She believes that integrating Bitcoin into the national financial strategy could be a valuable tool in protecting against traditional financial risks. Cotar suggests that Bitcoin could serve as a strategic reserve currency, diversifying treasury assets and safeguarding against inflation and currency devaluation.
Concerns Over Government Bitcoin Sales
Recent data from Arkham Intelligence reveals that the German government has sold a significant amount of bitcoins, totaling $434.9 million. Cotar argues that continuing these sales is unwise and counterproductive. She proposes alternative strategies, such as keeping the remaining bitcoins in the state treasury, issuing bitcoin bonds, and creating a favorable regulatory environment for cryptocurrency use.
Industry Response
Justin Sun, the head of HTX and Poloniex exchanges, has expressed interest in buying bitcoins from the German government privately to minimize market impact. In response to Cotar’s call, high-profile politicians have been invited to the Bitcoin Strategies for Nation States conference in October to discuss the potential role of Bitcoin in Germany’s future financial landscape.
