Joana Cotar, Member of the German Bundestag, has strongly criticized the German government’s decision to sell its bitcoin holdings hastily, calling for the development of a comprehensive bitcoin strategy instead.
In a translated post on X, the independent MP and bitcoin advocate expressed dissatisfaction with the government’s approach, stating, “Instead of holding bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale.”
Cotar emphasized that such actions are “not sensible” and could be counterproductive. She invited German Chancellor Olaf Scholz, Prime Minister Michael Kretschmer, and Finance Minister Christian Lindner to participate in a “Bitcoin Strategies for Nation States” event on October 17. The event will be hosted by Samson Mow, CEO of Jan3, a bitcoin company.
Alongside her public statement, Cotar shared a letter addressed to Prime Minister Kretschmer, urgently requesting the government to refrain from hastily selling its bitcoin reserves.
Cotar highlighted the benefits of holding bitcoin, pointing to its potential to diversify state assets and provide a hedge against inflation and currency depreciation, given its scarcity and deflationary nature. She underscored the importance of implementing a clear legal framework for bitcoin, stating that it contributes to Germany’s economic independence and technological advancement.
“Instead of selling, I recommend developing a comprehensive bitcoin strategy,” Cotar concluded. She suggested potential measures such as maintaining bitcoin in the state treasury, issuing bitcoin bonds, and creating a supportive regulatory environment to harness its potential.