German Lawmaker Says Her Country Should Be ‘Holding Bitcoin as a Strategic Reserve Currency’

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As a crypto investor with experience in following political developments and market trends, I find Joana Cotar’s advocacy for Germany to adopt Bitcoin as a strategic reserve currency intriguing. Given her background as a German politician known for her digital policy expertise and involvement with the Alternative for Germany (AfD) party, she carries significant weight in this debate.

Joana Cotar, a notable German lawmaker and Bitcoin supporter, has made a courageous plea to the German government, urging them to reconsider their plan to rapidly sell off Bitcoins. Instead, she suggests that Germany should consider adopting Bitcoin as a new strategic reserve currency.

I, as an analyst, can tell you that Cotar is a notable German political figure who has been deeply engaged with the Alternative for Germany (AfD) party. This right-wing populist organization holds significant influence within the German political landscape. Throughout her career, Cotar has assumed various roles within the AfD party. Born on the 6th of April, 1973, in Pitești, Romania, she later relocated to Germany and rose through the ranks of the AfD.

Cotar is a German parliamentarian, serving in the Bundestag representing the Alternative for Germany (AfD) party. Noted for her expertise in digital matters, she has been designated as the AfD’s spokesperson on digital infrastructure and internet governance concerns. Her political views resonate with the AfD’s overarching agenda, which advocates for national autonomy, EU skepticism, and stringent immigration policies.

As a financial analyst, I would highlight that in my plea made on the 4th of July, I underscored Bitcoin’s capability to expand Germany’s treasury reserves, protect against inflationary pressures and potential currency devaluation, and propel technological advancements.

In her letter to government officials, Cotar expressed her apprehensions regarding the ongoing Bitcoin liquidation, labeling it as rash and detrimental. She extended invitations to four political colleagues for an upcoming “Bitcoin Strategies for Nation States” conference in October. The purpose of this event was to enlighten and possibly persuade them about the merits of Bitcoin.

Instead of holding #Bitcoin as a strategic reserve currency, as debated in the USA, our government is selling it off in large quantities. I have informed @MPKretschmer, @c_lindner, and @Bundeskanzler @OlafScholz about why this isn’t just unnecessary but also…

— Joana Cotar (@JoanaCotar) July 4, 2024

As a crypto investor, I’ve come across some intriguing information from Arkham, a reputable cryptocurrency intelligence platform. They’ve disclosed that since June 19, Germany has been offloading its bitcoin stash. By July 4, the German government had sold approximately 40,359 Bitcoins, equivalent to roughly $2.3 billion in value.

Approximately $2.3 billion worth of Bitcoin, which is around 40,359 coins, remains under the control of the German Government in identified wallets or addresses on the blockchain.

— Arkham (@ArkhamIntel) July 4, 2024

According to Cotar, halting Bitcoin sales could strengthen Germany’s economic independence and shield it from global financial turbulence. She promotes the creation of a comprehensive Bitcoin plan, which may involve holding Bitcoin in the country’s reserves, selling Bitcoin bonds, and establishing a regulatory framework that encourages Bitcoin-focused advancements. This approach, she asserts, would not only boost the domestic economy but also draw skilled professionals from various parts of the world.

The German government is still undecided about continuing to sell their $2.3 billion worth of Bitcoins, but Tron’s founder Justin Sun has proposed buying this amount to lessen the market’s potential disturbance.

I’m open to discussing a private deal with the German authorities to acquire all their Bitcoins outside of the market, aiming to reduce market disruption.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 4, 2024

As a financial analyst, I have observed that the ongoing liquidation of Bitcoin holdings from Mt. Gox, along with the anticipated $9 billion reimbursement to creditors, has contributed to the recent downturn in Bitcoin’s price. At present, Bitcoin is being traded at approximately $54,392, representing a 11.5% decrease over the past week and a significant 23.4% decline during the last month.

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2024-07-05 10:14