Joana Cotar, an independent member of the Bundestag, has asked the government to stop liquidating Bitcoins at this point. Cotar told Michael Kretschmer, the deputy chair of the CDU, Christian Lindner, the Federal Minister of Finance, and Olaf Scholz, the chancellor, that she had concerns about the sales and called them “counterproductive.” She encouraged them to come to her October 17 talk with BTC supporter Samson Mow.
In her work, Cotar talked about how Bitcoin can help spread out assets and lower the risks that come with regular asset classes. She stressed that BTC could be used as a hedge against inflation and currency loses because there is not an abundance of it.
German Bitcoin Sell-Off Impact
Cotar also said that Bitcoin could lead to new ideas, economic independence, and progress in technology. Like El Salvador, she has been a passionate advocate of BTC and proposed a bill in 2023 to make it legal currency in Germany.
The German government sold BTC worth a lot of funds last month. This caused the price of Bitcoin to decline. Before this sell-off, the government got a lot of BTC when it shut down the pirate site Movie2k.to over ten years ago.
PeckShieldAlert said today that the German government sent an extra 1.3K BTC to platforms, which made people more likely to sell. BTC’s price dropped to $56,836 not long ago because of this.
