German Lawmaker Joana Cotar Rejects Digital Euro, Champions Bitcoin as Alternative

German Lawmaker Ditches Digital Euro, Advocates Bitcoin As Anti-CBDC Solution

In a bold move, independent member of the German Bundestag, Joana Cotar, has once again voiced her support for Bitcoin (BTC) while strongly opposing the European Central Bank’s (ECB) push for a digital Euro. In a recent speech delivered to the parliament, Cotar questioned the necessity of the digital Euro, which was proposed by ECB President Christine Lagarde, stating that no one has clearly explained its benefits.

Cotar emphasized that the demand for a digital Euro seems limited to the ECB and a select group of politicians, expressing concerns about the financial risks posed by this new form of currency. She declared, “The promises that the ECB makes on privacy are not worth the paper they are written on,” reflecting widespread skepticism about the ECB’s assurances on privacy.

Furthermore, Cotar criticized the authorities for gradually increasing surveillance and control under the guise of harmless initiatives, accusing them of using the digital Euro as a path to total surveillance. She ended her speech with a call to “Study Bitcoin,” urging people to understand the potential benefits of the leading cryptocurrency.

In recent weeks, the German government has been actively involved in the crypto market, holding a significant amount of Bitcoin valued at approximately $2.30 billion. The government’s recent offloading of over 10,000 BTC from their reserve of 50,000 BTC has raised concerns about a further dip in Bitcoin’s price, especially as they continue to liquidate large amounts of the cryptocurrency.

Cotar has been vocal about the government’s Bitcoin liquidations, describing them as counterproductive and urging officials to hold onto Bitcoin as a unique opportunity for investors to diversify their assets. She believes that Bitcoin could mitigate the risks associated with traditional investments and has invited key officials to attend her upcoming lecture on October 17, where Bitcoin maximalist Samson Mow will also be a guest speaker.

By advocating for Bitcoin and opposing the digital Euro, Cotar has positioned herself as a prominent voice in the debate over the future of digital currencies in Europe. Her strong stance against CBDCs and support for Bitcoin as an anti-CBDC solution highlights the growing importance of cryptocurrency in the global financial landscape.

As the German government continues to navigate its stance on digital currencies, Cotar’s advocacy for Bitcoin serves as a reminder of the potential benefits and risks associated with the evolving digital economy. Her efforts to educate and engage with policymakers and the public on the advantages of Bitcoin underscore the ongoing debate surrounding the role of cryptocurrencies in shaping the future of finance.