EU urged to follow El Salvador’s lead with Bitcoin reserves by European MP
EU fast to exercise El Salvador’s lead with Bitcoin reserves by European MP EU fast to exercise El Salvador’s lead with Bitcoin reserves by European MP
European MP Sarah Knafo advocates for Bitcoin as a safeguard in opposition to centralized digital currency risks.
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European Union Member of Parliament Sarah Knafo has fast the bloc to prioritize a Strategic Bitcoin Reserve in location of shifting forward with the European Central Monetary institution’s (ECB) digital euro project.
In a Dec. 17 video shared on X, Knafo criticized the ECB’s conception for a centralized digital currency, arguing it risks financial freedom and overreach. As another, she advocated for Bitcoin as a decentralized safeguard in opposition to inflation and miserable monetary insurance policies.
Knafo acknowledged that a strategic Bitcoin reserve would align the EU with world financial traits whereas fostering resilience in opposition to economic uncertainty.
Bitcoin as a strategic asset
Knafo wrote:
“NO to the digital euro. YES to a strategic reserve of BITCOIN.”
The lawmaker pointed to El Salvador as a high instance of Bitcoin’s doable. Irrespective of world skepticism, El Salvador adopted Bitcoin as a authorized refined three years in the past and has since considered its nationwide Bitcoin funding double in value.
Knafo infamous that this financial acquire has improved economic security and empowered residents, offering a model that European international locations may perhaps well well well replicate. She fast EU nations to examine Bitcoin’s strategic importance and apply El Salvador’s lead by constructing their reserves.
The lawmaker also referenced shifting attitudes in the United States. Federal Reserve Chair Jerome Powell’s description of Bitcoin as “digital gold” and President-elect Donald Trump’s evolving stance highlight rising recognition of BTC’s doable as an skilled financial asset.
Maintaining financial freedom
Knafo warned that the ECB’s push for a digital euro signals a race in direction of gross centralized adjust.
She acknowledged:
“It's time to trade the paradigm. It's time to guard our folks from inflation and the miserable economic picks of our states. It's time to claim no to the totalitarian temptations of the European Central Monetary institution, which desires to impose a digital euro entirely in its fingers.”
As another, she argued that Bitcoin provides a decentralized alternative, empowering residents and fostering financial independence.
Knafo concluded by calling on European leaders to adopt a forward-thinking financial approach. She argued that Bitcoin would enable the EU to safe its economic future, toughen resilience, and uphold the suggestions of industrial freedom.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's doable. He imparts insights on a vary of issues treasure DeFi, hacks, mining and culture, underlining transformative energy.
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