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Bundestag MP Joanna Kotar called for an end to the sale of state bitcoin holdings

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06.07.2024

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She recalled that in the United States, Bitcoin is viewed as a strategic reserve currency, and urged government officials to view BTC as a national strategic asset instead of a short-term financial solution.

"It is difficult for individuals, governments and policymakers to fully understand the benefits of Bitcoin. Just as it is difficult to understand the benefits to be gained from the effective use of a digital asset. A well-designed Bitcoin strategy has the potential to transform a country's development, bringing economic prosperity and basic freedoms to its citizens. I urge to refrain from hastily disposing of government bitcoins," Kothar stated.

The politician emphasized that she supports the need to combat potential risks such as money laundering and tax evasion using digital assets. But believes that fighting potential crimes should not lead to a stifling of innovation.

Between June 14 and July 4, the German government withdrew 3,820 BTC from its public stockpile.

Earlier, Bitcoin Magazine CEO David Bailey (David Bailey) said that as a result of incompetence of officials, the US budget lost more than $12 billion in the first cryptocurrency. The journalist claims that right now the US should have had at least 400,000 VTS (over $26 billion) on its balance sheet. However, instead, the current administration has "reached into the pocket of the wealth of future generations."