The post Sarah Knafo Calls for Strategic Bitcoin Reserve in the EU, Opposes Digital Euro appeared first on Coinpedia Fintech News
In the latest development, a European MP has advocated for a “Strategic Bitcoin Reserve” in the European Parliament, highlighting Bitcoin’s growing recognition as a sovereign hedge asset.
Sarah Knafo, a French magistrate and a member of the European Parliament since June, in a pro-Bitcoin speech, has urged the European Union to create a strategic Bitcoin reserve and opposed the proposed “digital euro,” a central bank digital currency (CBDC) being developed by the European Central Bank (ECB). “No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo noted in an X post.
NO to the digital euro YES to a strategic reserve of BITCOIN (Speech in French at the European Parliament, translated by IA) pic.twitter.com/QDmdodpDEQ
— Sarah Knafo (@knafo_sarah) December 17, 2024
Cites Instances Of El Savador, US
She cited instances of the President of El Salvador who decided to invest in BTC for his country while being ridiculed by the political class and the IMF. She stressed that he now shows a 100% return with hundreds of millions of dollars available for his people. She underscored that the whole world is now getting ready to take advantage of this revolution in decentralized finance.
Notably, the Trump administration is set to create a strategic Bitcoin reserve for the U.S. She also pointed to U.S. Federal Reserve Chair Jerome Powell’s striking comparison of Bitcoin as digital gold as the cryptocurrency surges to new heights. With Bitcoin skyrocketing, she boldly asked: What is the European Union doing to keep up?
“Time For A Paradigm Shift”
She emphasized that its time for the EU to stop wasting money and address growing deficits. The EU’s heavy regulation and taxes are stifling progress. She suggests rejecting the European Central Bank’s digital Euro, which could give bureaucrats too much control over transactions. Instead, we should embrace freedom by investing in Bitcoin, building national reserves, and supporting the mining industry. She added that France, with its nuclear power advantage, should stop taxing cryptocurrency holders who have earned their savings through intelligence and risk.
“It’s time to change the paradigm. It’s time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the ECB, which wants to impose a fully controlled digital Euro. It’s time for our states to invest in Bitcoin to build national strategic reserves. It’s time to develop the mining industry,” she remarked.
