{"id":33656,"date":"2024-07-05T12:57:58","date_gmt":"2024-07-05T12:57:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/german-mp-calls-for-halt-on-bitcoin-sales-advocates-for-strategic-reserve\/"},"modified":"2024-07-05T12:57:58","modified_gmt":"2024-07-05T12:57:58","slug":"german-mp-calls-for-halt-on-bitcoin-sales-advocates-for-strategic-reserve","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/german-mp-calls-for-halt-on-bitcoin-sales-advocates-for-strategic-reserve\/","title":{"rendered":"German MP Calls for Halt on Bitcoin Sales, Advocates for Strategic Reserve"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
\n<\/p>\n

\n

German Member of Parliament Joana Cotar, a staunch advocate for Bitcoin,<\/a> has called on the government to cease its rapid Bitcoin sales. She proposes adopting Bitcoin as a \u201cstrategic reserve currency\u201d to protect against risks in the traditional financial system.<\/p>\n

In a July 4 post on X, Cotar argued that Bitcoin (BTC) could help Germany diversify its treasury assets. She highlighted that Bitcoin acts as a hedge against inflation and currency devaluation while fostering innovation within the country. \u201cInstead of divesting, I recommend developing a comprehensive Bitcoin strategy. This could include keeping Bitcoin in the state treasury, issuing Bitcoin bonds, or creating a conducive regulatory environment,\u201d<\/em> Cotar stated.<\/p>\n

She further emphasized that the ongoing sell-off is counterproductive. To persuade her colleagues, Cotar invited four German lawmakers to the \u201cBitcoin Strategies for Nation States\u201d event on October 17.<\/p>\n

Current Bitcoin Holdings and Market Impact<\/strong><\/h2>\n

According to data from cryptocurrency intelligence platform Arkham, the German government has sold 8,083 BTC worth approximately $462.1 million since July 19. After these transactions, Germany holds 41,774 Bitcoin, valued at about $2.27 billion.<\/p>\n

\n
\n
\n
\n
\n
177% up to 5BTC + 77 Free Spins<\/strong>!<\/strong> <\/p>\n

New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Cotar stressed the importance of stopping the mass Bitcoin sales immediately. She believes this move could strengthen Germany\u2019s economic independence and enhance resilience to external financial uncertainties. A crucial part of her strategy involves creating a legal framework to promote Bitcoin-based innovation and attract global talent.<\/p>\n

The German Federal Criminal Police Office (BKA) initially seized about 50,000 BTC from the operators of the piracy movie website Movie2k.to in 2013. The BKA acquired the Bitcoin in mid-January following a \u201cvoluntary transfer\u201d from the suspects. The government has not yet confirmed if it plans to sell the remaining Bitcoin.<\/p>\n

Meanwhile, Tron founder Justin Sun recently proposed to buy Germany\u2019s $2.3 billion worth of Bitcoin to minimize market disruption. Despite this offer, Germany\u2019s continued Bitcoin sell-off and Mt. Gox\u2019s $9 billion compensation plan to creditors have contributed to Bitcoin\u2019s recent price drop. The cryptocurrency\u2019s value has fallen below $55,000, reaching levels last seen in February.<\/p>\n

Claims that Mt. Gox transferred around 47,000 BTC (worth about $2.6 billion) to a new wallet before its $9 billion payout have further accelerated the sell-offs. Cotar\u2019s call to action highlights the potential long-term benefits of treating Bitcoin as a strategic asset, rather than a commodity to be liquidated, for enhancing Germany\u2019s economic strategy.<\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Crypto News – iGaming.org ) German Member of Parliament Joana Cotar, a staunch advocate for Bitcoin, has called on the government to cease its rapid Bitcoin sales. She proposes adopting Bitcoin as a \u201cstrategic reserve currency\u201d to protect against risks in the traditional financial system. In a July 4 post on […]<\/p>\n","protected":false},"author":34,"featured_media":33657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33656"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33656"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33657"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}