Bundestag
member
Joana
Cotar
strongly
criticized
the
German
government’s
recent
decision
to
sell
a
substantial
portion
of
its
Bitcoin
holdings.
The
German
government
recently
moved
over
$195
million
worth
of
Bitcoin
to
various
crypto
exchanges,
including
Coinbase,
Kraken,
and
Bitstamp.
The
move
has
contributed
to
increased
market
volatility,
with
Bitcoin
prices
experiencing
notable
fluctuations.
Critics
argue
that
such
large-scale
liquidations
by
the
government
could
have
long-term
negative
impacts
on
the
crypto
market’s
stability.
The
sales
stem
from
assets
seized
during
a
high-profile
investigation
into
the
illegal
movie
streaming
site
Movie2k.to,
which
resulted
in
the
confiscation
of
approximately
50,000
BTC,
now
valued
at
over
$3
billion.
The
sales
have
sparked
controversy
and
debate
within
Germany
and
beyond
as
the
government
continues
to
liquidate
assets
seized
in
a
high-profile
case. Critics
argue
that
the
government’s
large-scale
liquidations
could
have
long-term
negative
impacts
on
Bitcoin’s
value
and
stability.
Counterproductive
approach
In
a
series
of
tweets,
Cotar
condemned
the
government’s
move,
contrasting
it
with
discussions
in
the
US,
where
Bitcoin
is
being
considered
as
a
strategic
reserve
currency.
She
addressed
her
concerns
to
Saxony’s
Minister,
President
Michael
Kretschmer,
Finance
Minister
Christian
Lindner,
and
Chancellor
Olaf
Scholz,
urging
them
to
rethink
the
strategy.
She
emphasized
the
counterproductive
nature
of
this
approach
and
invited
the
officials
to
attend
an
upcoming
lecture
event
titled
“Bitcoin
Strategies
for
Nation
States”
on
Oct.
17. The
event
will
feature
Samson
Mow,
CEO
of
JAN3
and
a
prominent
Bitcoin
strategist.
The
discussion
will
focus
on
how
political
decision-makers
can
leverage
Bitcoin
to
bolster
their
national
economies.
Mow
is
expected
to
provide
insights
into
the
potential
benefits
of
holding
Bitcoin
as
part
of
national
financial
strategies,
a
topic
gaining
traction
worldwide.
The
event
will
also
discuss
the
issuance
of
Bitcoin-backed
government
bonds
to
attract
a
new
class
of
investors
interested
in
fixed-income
securities
denominated
in
Bitcoin.
These
bonds,
Mow
suggests,
can
provide
a
stable
source
of
funding
for
critical
infrastructure
projects,
spurring
economic
growth
and
innovation.
The
event
draws
parallels
to
El
Salvador’s
pioneering
move
in
2021
to
adopt
Bitcoin
as
legal
tender,
highlighting
the
potential
for
similar
initiatives
to
drive
economic
transformation.
Mow’s
experience
with
advising
governments
like
those
of
El
Salvador
and
Mexico
lends
credibility
to
his
recommendations.
Go to Source
Author: Assad Jafri
