🚨🇩🇪 GERMAN GOV'T URGED TO STOP CRASHING THE MARKET & SELLING BITCOIN 🇩🇪🚨
📉 Bundestag member Joana Cotar strongly criticized the German government’s recent decision to sell a substantial portion of its Bitcoin holdings.
💰 The German government recently moved over $195 million worth of Bitcoin to various crypto exchanges, including Coinbase, Kraken, and Bitstamp. This move has contributed to increased market volatility, with Bitcoin prices experiencing notable fluctuations. Critics argue that such large-scale liquidations by the government could have long-term negative impacts on the crypto market’s stability.
🔍 The sales stem from assets seized during a high-profile investigation into the illegal movie streaming site Movie2k.to, which resulted in the confiscation of approximately 50,000 BTC, now valued at over $3 billion. Critics argue that the government’s large-scale liquidations could have long-term negative impacts on Bitcoin’s value and stability.
⚠️ COUNTERPRODUCTIVE APPROACH ⚠️
💬 In a series of tweets, Cotar condemned the government’s move, contrasting it with discussions in the US, where Bitcoin is being considered as a strategic reserve currency. She addressed her concerns to Saxony’s Minister, President Michael Kretschmer, Finance Minister Christian Lindner, and Chancellor Olaf Scholz, urging them to rethink the strategy.
📚 She emphasized the counterproductive nature of this approach and invited the officials to attend an upcoming lecture event titled “Bitcoin Strategies for Nation States” on Oct. 17. The event will feature Samson Mow, CEO of JAN3 and a prominent Bitcoin strategist. The discussion will focus on how political decision-makers can leverage Bitcoin to bolster their national economies. Mow is expected to provide insights into the potential benefits of holding Bitcoin as part of national financial strategies.
What do you think about this bold move?
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