Source: Blockchain Knight
Federal parliament member Joana Cotar strongly criticized the recent decision by the German government to sell a significant amount of BTC it holds. Recently, the German government transferred over $195 million worth of BTC to various crypto asset exchanges, including Coinbase, Kraken, and Bitstamp. This move exacerbated market volatility, leading to significant fluctuations in BTC prices. Critics argue that such large-scale liquidation by the government could have long-term negative impacts on the stability of the crypto asset market.
The assets sold were seized during a high-profile investigation into the illegal movie streaming website Movie2k.to, confiscating approximately 50,000 BTC, now valued at over $3 billion. The government continues to liquidate assets seized in other notable cases, sparking controversy and discussion both domestically and internationally.
In a series of tweets, Cotar condemned the government’s action, contrasting it with discussions in the United States, where BTC is viewed as a strategic reserve currency. She expressed her concerns to Saxony’s Minister President Michael Kretschmer, Finance Minister Christian Lindner, and Chancellor Olaf Scholz, urging them to reconsider this strategy. She emphasized the counterproductive nature of such actions and invited officials to participate in a lecture titled “The Nation’s BTC Strategy” scheduled for October 17.
Samson Mow, CEO of JAN3 and a prominent BTC strategist, will also attend the event. The discussion will focus on how political decision-makers can leverage BTC to promote their national economies. Mow is expected to provide insights into the potential benefits of holding BTC as part of a national financial strategy, a topic gaining increasing global attention.
The event will also explore issuing government bonds backed by BTC to attract a new class of investors interested in fixed-income securities priced in BTC. Mow noted that these bonds could provide stable funding for critical infrastructure projects, stimulating economic growth and innovation.
This event mirrors initiatives like El Salvador’s adoption of BTC as legal tender in 2021, highlighting the potential of such measures to drive economic transformation. Mow has consulted for governments including those of El Salvador and Mexico, enhancing the credibility of his recommendations.
