Joana Cotar, a member of the Bundestag, calls for the cessation of Bitcoin sell-off, citing its potential as a national asset and driver of innovation. Bitcoin price drops 10% due to government sales, but Cotar argues for long-term benefits.
German Parliament Member Appeals to Halt Bitcoin Sales Amid Market Impact
Joana Cotar, an independent member of the Bundestag, Germany’s legislative chamber, has urged the government to cease its ongoing Bitcoin (BTC) sell-off. Over the past two weeks, Bitcoin’s price has dropped by 10%, partly attributed to these sales.
In a letter to the government, Cotar stressed that Bitcoin has emerged as a vital asset class and a promising investment, akin to “digital gold.” She emphasized Bitcoin’s acceptance by traditional financial institutions and its potential benefits for the state treasury. Cotar argued that Bitcoin’s inclusion alongside gold reserves and fiat currencies could diversify national assets and shield them from inflation and devaluation.
Despite current sales, with the German government offloading BTC worth $175 million recently, Cotar believes retaining Bitcoin could enhance economic growth and technological progress. She advocates for a favorable regulatory framework to attract businesses and foster innovation.
Continuing its sell-off, the government still holds 40,359 BTC, valued at approximately $2.3 billion. This has contributed to Bitcoin’s current price fluctuation, recently dipping to $56,700 before recovering slightly to $58,300.
