German Politician Urges the Government to Stop the Bitcoin Sell-Off

Joana Cotar, an independent Bundestag member, has called on the government to cease its Bitcoin sell-off.

She has communicated this to Michael Kretschmer, CDU’s deputy chair, Finance Minister Christian Lindner, and Chancellor Olaf Scholz, labeling the action as “counterproductive.” Cotar invited them to attend her lecture with Bitcoin advocate Samson Mow on October 17.

Cotar’s letter highlights Bitcoin’s potential for asset diversification, reducing risks tied to traditional asset classes. She argues that Bitcoin can serve as a hedge against inflation and currency devaluation due to its limited supply.

Additionally, Cotar believes Bitcoin could drive innovation, economic sovereignty, and technological advancement.

In 2023, Cotar proposed a bill to recognize Bitcoin as legal tender in Germany, inspired by El Salvador. Recently, the German government sold a significant amount of BTC, possibly contributing to Bitcoin’s poor performance.

This sell-off followed the government’s acquisition of a large Bitcoin stash after shutting down the Movie2k.to piracy website over a decade ago.