Advertise
Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Dec 17, 2024 13:30 UTC
-
European MP Pushes for Strategic Bitcoin Reserve, Rejects Digital Euro
Sarah Knafo, a French MP, has called for the EU to establish a strategic Bitcoin reserve, citing its potential as a sovereign hedge asset.
Knafo argues that Bitcoin offers a hedge against inflation and economic instability.
Knafo opposes the digital euro, fearing excessive government control, and advocates for decentralization through Bitcoin and supporting the mining industry.
In a strong call to action, European Parliament member Sarah Knafo has urged the European Union to establish a “Strategic Bitcoin Reserve” to safeguard against economic uncertainty. At the same time, she rejected the European Central Bank’s (ECB) plans to introduce a digital euro.
Knafo, a French magistrate and MEP since June, delivered a powerful pro-Bitcoin speech. “No to the digital euro, yes to a strategic Bitcoin reserve,” she declared in an X post, taking a clear stance against the ECB’s centralized digital currency.
She highlighted El Salvador’s success under President Nayib Bukele, who was initially mocked by global leaders and the IMF for investing in Bitcoin. Now, El Salvador boasts 100% returns, unlocking hundreds of millions of dollars in value for its citizens.
Knafo emphasized that the world is embracing decentralized finance and boldly questioned:
“What is the European Union doing to keep up?”
The U.S. Leads the Way on Bitcoin
Knafo pointed to growing momentum in the U.S., where the Trump administration is reportedly exploring the creation of a strategic Bitcoin reserve. She also referenced U.S. Federal Reserve Chair Jerome Powell, who compared Bitcoin to “digital gold” amid its recent price surge.
Could Bitcoin reserves shape a nation’s future? Read Bitcoin price prediction to see how crypto adoption is changing the global economy!
A Clear Warning for the EU
Knafo criticized the EU’s current policies, including excessive regulation, taxation, and rising deficits, which she said are holding back progress. She warned that the ECB’s digital euro could hand bureaucrats too much control over financial transactions, threatening individual freedom.
Instead, she urged the EU to:
- Reject the digital euro
- Invest in Bitcoin to protect citizens from inflation
- Build national Bitcoin reserves
- Support the Bitcoin mining industry.
“It’s time to change the paradigm. It’s time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the ECB, which wants to impose a fully controlled digital Euro. It’s time for our states to invest in Bitcoin to build national strategic reserves. It’s time to develop the mining industry,” she remarked.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Yes 
No 
