A Bold Call to Action

German lawmaker and Bitcoin activist Joana Cotar has issued a strong plea to the government. She urges them to halt their rapid selling of Bitcoin (BTC). Instead, she proposes adopting it as a 'strategic reserve currency'. This call to action aims to shield Germany against risks in the traditional financial system.

On July 4, Cotar wrote to members of Germany's government. She urged them to 'refrain from a hasty disposal of state-owned Bitcoin.' Cotar believes Bitcoin can diversify Germany's treasury assets. She argues it can serve as a hedge against inflation and currency devaluation. Additionally, she sees it as a way to promote innovation in the country.

Concerns Over Current Strategy

Cotar emphasized that further sell-offs are not 'sensible'. She described them as 'counterproductive' for Germany. In her letter, she invited four German politicians to the 'Bitcoin Strategies for Nation States' event in October. She hopes to orange-pill her peers at this event.

According to cryptocurrency intelligence platform Arkham, the German government has sold 7,583 Bitcoin since June 19. At current prices, this amounts to $434.9 million. On July 4 alone, $172 million worth of Bitcoin was transferred to exchanges like Coinbase, Kraken, and Bitstamp.

A Vision for Bitcoin Strategy

Germany now holds only 42,274 Bitcoin, worth about $2.4 billion. Cotar wants this mass selling to stop immediately. She stresses that Bitcoin could strengthen Germany's economic independence. It could also increase its resilience to external financial uncertainties.

'Instead of divesting, I recommend developing a comprehensive Bitcoin strategy,' Cotar said in her translated statement. She suggested keeping Bitcoin in the state treasury, issuing Bitcoin bonds, or creating a conducive regulatory environment.

Attracting Global Talent

Part of Cotar's Bitcoin strategy involves establishing a legal framework. This would promote Bitcoin-based innovation. It would also attract top talent from around the world to Germany.

Related Concerns

The German government has yet to confirm whether it plans to sell the rest of its Bitcoin. However, Tron founder Justin Sun has shown interest in buying Germany's $2.3 billion worth of Bitcoin. He aims to minimize its impact on the market.

Germany's continued Bitcoin sell-off and Mt. Gox's $9 billion reimbursement plan to creditors have been linked to Bitcoin's recent price slump. This ongoing situation has sparked a mix of concern and anticipation in the cryptocurrency community.