Independent Bundestag member Joana Cotar recently spoke out against the German government’s strategy of selling Bitcoin on a large scale. In a bold move, Cotar warned prominent figures such as CDU vice-chairman Michael Kretschmer, Federal Finance Minister Christian Lindner, and Chancellor Olaf Scholz, describing the practice as “counterproductive.”

In a detailed letter, Cotar highlighted the advantages of Bitcoin, arguing that the cryptocurrency represents a “unique opportunity” for asset diversification, offering a hedge against risks associated with traditional asset classes. According to her, Bitcoin also serves as a shield against inflation and currency devaluation, thanks to its scarce nature.

Additionally, the lawmaker, known for her support of Bitcoin, stressed that the digital currency can drive innovation, economic sovereignty and technical progress. This vision will be expanded upon in a talk scheduled for October 17, which will feature Samson Mow, a well-known Bitcoin evangelist.

The controversy is all the more relevant considering that the German government became one of the largest holders of Bitcoin after a crackdown on piracy site over a decade ago. This historic accumulation of cryptocurrencies has taken on new dimensions today, with reports from PeckShieldAlert indicating that another 1.3K BTC were transferred by the government to various exchanges, intensifying selling pressure in the market.


The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.


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