Europe’s French Member of Parliament (MEP), Sarah Knafo, voiced strong support for Bitcoin while opposing the European Union’s plans for a digital euro.
“Yes to a strategic national reserve of Bitcoin,” she insisted.
During a parliamentary session on 16 December 2024, Knafo expressed skepticism about the digital euro project, arguing that it could undermine individual financial autonomy and lead to excessive state control over personal finances.
NON à l’euro numérique
OUI à une réserve nationale stratégique de BITCOIN
pic.twitter.com/o886lk9uV8
— Sarah Knafo (@knafo_sarah) December 16, 2024
MEP Highlighted Bitcoin As “Digital Gold”
The MEP emphasized that Bitcoin represents a decentralized alternative that aligns with principles of freedom and transparency.
Meanwhile, the European Central Bank (ECB) has been actively exploring the introduction of a digital euro, a central bank digital currency (CBDC).
However, this initiative has faced criticism from various quarters, including concerns about privacy, government overreach, and the potential impact on traditional banking systems.
Bitcoin, often referred to as “digital gold,” operates on a decentralized blockchain network that is not controlled by any central authority. The MEP highlighted Bitcoin’s potential to empower citizens by offering them greater control over their wealth without relying on intermediaries like banks or governments.
In fact, Michael Saylor stepped in with a post on X to offer support to Knafo.
"It’s time to bet on freedom. It’s time for our states to invest in #Bitcoin to build national strategic reserves." – @Knafo_Sarahpic.twitter.com/WLrbyg4WER
— Michael Saylor
(@saylor)
Read more: Is European Central Bank Threatened By Bitcoin? German And Swiss Parliament Members Weigh In
German And Swiss Parliament Members Weigh In
“I think that the European Central Bank (ECB) is just afraid of Bitcoin now,” said Joana Cotar, member of German Parliament.
“They said don’t invest in Bitcoin; it’s not worth it. And then they suddenly realized that Bitcoin is not going away. On the contrary, it’s getting more momentum. More people are looking into Bitcoin. More people are using it. Now it’s a topic in the election in the US,” said Cotar, while talking at the Plan B Conference in Lugano on 26 October 2024.
“Now they’re discussing it in the German parliament. They’re discussing it in Switzerland.”
Cotar, a member of the German parliament for over seven years now has been in politics for over 11 years now. For the past two years now, she has been pushing the topic of Bitcoin forward in Parliament.
“Talking to my colleagues, I realized they have no idea what Bitcoin really is. They thought it is something terrorists use It’s killing the planet. How can we regulate it? Can we ban it? These are the discussions that are going on in the German Bundestag (lower house).” She made a speech against CBDCs or the digital Euro in the parliament, which got a lot of attention. She is working towards inviting experts to the parliament to explain what Bitcoin is really about.
“Maybe the next time they’re talking about Bitcoin, they’re not talking about how we can ban it.”
Reporting progress, Joana said, “Politics is a marathon. It’s not a sprint. So it will take a lot of time for Germany. But we have members of all parties represented in the German Bundestag listening to us, including members from the Ministry of Finance and Economy.”
“Maybe the next time they’re talking about Bitcoin, they’re not talking about how we can ban it, but how we can use it to the advantage of the people,” she insisted.
“Being in politics for such a long time, I realized that politicians and parties are rarely the solution for any problems,” Cotar added. “Most of the time, they’re part of the problem or they are the problem. So we need to step up and give the power back to the people. And Bitcoin is a tool of freedom.”
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