German Lawmaker Supports Bitcoin Raises Concerns Over ECBs Digital Euro Plans

German Bundestag member Joana Cotar has passionately voiced her support for Bitcoin while criticizing the European Central Bank’s (ECB) plans for a digital Euro. In a powerful speech to the Bundestag, Cotar raised concerns about the unclear benefits of the proposed digital Euro. She questioned the necessity of this new form of currency and expressed worries about the associated risks. Cotar emphasized that the promises of privacy made by the ECB were not trustworthy. She argued that European lawmakers would be responsible for finding a balance between privacy and policy objectives if the digital Euro were to be implemented. Cotar also warned that the digital Euro could be used as a tool for increased surveillance and control. She concluded her speech by urging people to study Bitcoin. Cotar further amplified her stance on the digital Euro by sharing a video of her speech on her social media platforms. She highlighted the potential for increased surveillance and control that could come with the initiative. Cotar’s advocacy for Bitcoin comes at a time when the German government is actively involved in the cryptocurrency market. The government recently sold a substantial amount of Bitcoin from its reserve, raising questions among the crypto community. Despite this, Cotar’s support for Bitcoin aligns with the narrative of Chief Strategist Chris Wood, who views Bitcoin as a long-term hedge against the devaluation of traditional currencies. This growing acceptance of Bitcoin and cryptocurrency in Germany is evident through Cotar and Wood’s advocacy.