EU Parliament Member pushes for a strategic Bitcoin reserve and says ‘no’ to digital euro

French Member of Parliament Sarah Knafo is calling on the EU to ‘invest in Bitcoin’ by creating national strategic Bitcoin reserves, while rejecting the central bank’s digital euro plan.

In a video shared on account

“It’s time to bet on freedom, it’s time for our states to bet on Bitcoin. Creating national strategic reserves. It is time to develop the mining industry,” said Knafo.

He took the opportunity to oppose the European Central Bank’s plan to create a digital euro; He believes this mechanism will give the bank more power over people’s finances because of how centralized the digital euro is.

“We don’t want this dystopian world where a European bureaucrat can, with the click of a button, ban certain transactions, or even kick us out of the banking system, for a simple comment made on social media or for expressing an opinion he disagrees with.”

Sarah Knafo, Member of the European Parliament

At the beginning of his speech, he cited El Salvador’s decision to invest in cryptocurrency in 2021 and Donald Trump’s determination to establish a strategic Bitcoin reserve in the United States as important examples of how the world is moving towards decentralized finance.

“The entire world is now poised to benefit from this decentralized finance revolution. Donald Trump will create a strategic Bitcoin reserve for the USA US Federal Reserve Chairman Jerome Powell is now talking about digital gold. “Bitcoin is exploding,” Knafo said, referring to the important milestone of Bitcoin exceeding the $ 100,000 threshold for the first time in history and the US Fed President’s comments comparing Bitcoin to gold.

He criticized the EU for its poor decision to stick with traditional financial systems that are much more prone to economic crises such as inflation and budget deficits. Knafo claimed that the EU was “wasting our money on incredible mismanagement” because it refused to turn to crypto as a more reliable alternative to store its national funds.

“It’s time for a paradigm shift. “It’s time to protect our people from inflation and our states’ bad economic choices,” he said.

Over the past few months, many countries have moved towards plans to create Bitcoin reserves. On December 16, Donald Trump reaffirmed plans to create a strategic Bitcoin reserve as part of his plan to make America the “crypto capital.” Additionally, states across the country, including Texas, Alabama, and Pennsylvania, are in the process of passing Bitcoin reserve laws.

Prior to this, lawmakers in both Japan and Russia had called on their governments to consider creating a national Bitcoin reserve to protect their nations’ national funds.

On November 26, Brazilian lawmakers in the House of Representatives proposed a Bitcoin bill that would limit Brazil’s reserves to approximately $18.5 billion worth of Bitcoin.