Germany May Join the List of Countries Hoarding Bitcoin (BTC) as a Strategic Asset
- PHPzOriginal
- 2024-07-11 09:27:59959browse
We recently heard Donald Trump say that Bitcoin is a strategically valuable asset that should be consolidated in the US. Otherwise, he believes that Russia and
Former US President Donald Trump has expressed his belief that Bitcoin is a valuable asset that should be consolidated in the US. He stated that if this is not done, Russia and China will take over the strategic initiative in the global economy.
Trump's statement comes amid discussions about the German government's decision to sell a portion of its Bitcoin reserves. Member of Parliament Joana Cotar has voiced her opposition to these sales, arguing that Bitcoin should be retained as a strategic reserve.
The German government has sold 7,583 Bitcoin since June 19, leaving 42,274. According to Cotar, these sales should be stopped and the remaining Bitcoin should be kept as an important reserve for the stability and prosperity of the German economy, especially against fiat currency volatility and inflation.
"Instead of divesting, I recommend developing a comprehensive Bitcoin strategy," Cotar said. "This could include keeping Bitcoin in the state treasury, issuing Bitcoin bonds, or creating a conducive regulatory environment."
It is unclear how much influence Cotar's statement will have on the government's decision. With the Bitcoin price currently hovering around $54,937, the government may decide to sell more actively if they believe the price will drop further.
Alternatively, they may decide to hold onto the Bitcoin if they are convinced of its long-term potential and value. Some countries, such as China, are reportedly engaging in large-scale Bitcoin purchases, as mentioned by Trump in his statements.
While Germany has not yet implemented a clear strategy for long-term Bitcoin accumulation, Cotar's initiative could serve as a starting point for such an initiative.
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