EU Member of Parliament Urges Strategic Bitcoin Reserve
Sarah Knafo, a Member of the European Parliament, called for a strategic Bitcoin reserve in her speech.
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Sarah Knafo, a Member of the European Parliament, called for a strategic Bitcoin reserve in her speech.
In her French speech, Knafo said the whole world is now getting ready to take advantage of the revolution in decentralized finance.
She brought up the example of El Salvador’s president, Nayib Bukele, who decided to buy Bitcoin in 2021 and profited from this purchase. Next, she mentioned Donald Trump, who plans to create a Bitcoin reserve for the United States, and U.S. Federal Reserve Chair Jerome Powell, who called Bitcoin “digital gold” earlier this month.
When talking about the European Union, the MP criticized its monetary approach, which included the accumulation of inflationary deficits, excessive regulations, and taxation.
According to Knafo, the EU is holding back and needs a change in policies:
It’s time to protect people from inflation and the bad economic decisions of our states
she said.
In her speech, Knafo also criticized the digital euro, describing it as the Central Bank’s way of gaining control over people’s monetary transactions. She stated:
We don’t want this dystopian world where a European bureaucrat
could tomorrow ban us from certain transactions and even kick us out of a banking system
Meanwhile, Bitcoin set a new record high today, hitting $108,251. In the last 7 days, the coin’s price has increased by 10%, and its market cap now stands above $2 trillion.
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