As a seasoned investor and political observer with roots deeply entrenched in both the financial and technological landscapes of Europe, I find Sarah Knafo’s call to action not only timely but also prudent. Her insights into the shifting global financial paradigm resonate profoundly with my own observations, particularly the growing trend towards decentralized finance.
Sarah Knafo, a member of the French Parliament, advocates for the European Union to invest in Bitcoin by establishing strategic Bitcoin reserves at a national level, instead of pursuing the central bank’s proposal for a digital euro.
On December 17th, Knafo posted a video to her account, where she made a speech in parliament advocating that European countries should begin accumulating their own Bitcoin (BTC) reserves, foster the growth of the cryptocurrency mining industry, and reconsider increasing taxes on crypto holders.
Knafo suggested, “Now is the moment to invest in liberty; let’s encourage our states to invest in Bitcoin. This can help us establish national strategic reserves. It’s also crucial to foster the growth of the mining industry.
She seized the moment to challenge the European Central Bank’s proposal for developing a digital euro, which she considers as an instrument that might amplify the bank’s control over personal financial matters, given its highly centralized nature.
We prefer a world free of oppressive regulations, where no European official has the power to restrict our financial transactions or exclude us from the banking system based solely on a social media post or statement expressing a differing viewpoint.
Sarah Knafo, Member of the European Parliament
At the outset of her address, she referenced El Salvador’s move to invest in cryptocurrency in 2021 and former President Donald Trump’s plan to create a strategic Bitcoin reserve within the U.S., using these events as significant indicators that global finance is increasingly leaning towards decentralized systems.
Global societies are gearing up to seize the opportunities presented by the decentralized finance revolution. Recently, Donald Trump announced plans to establish a strategic Bitcoin reserve for the U.S., while Jerome Powell, Chair of the U.S. Federal Reserve, has been discussing Bitcoin as a form of digital gold. Notably, Bitcoin has reached an unprecedented high, exceeding $100,000, and Powell’s comments draw parallels between Bitcoin and traditional gold. (Knafo)
Knafo argued that the EU is wasting resources due to poor management, as they continue to rely on outdated financial systems, which increase the risk of economic issues like inflation and deficits. According to Knafo, the EU should consider crypto as a more dependable method for safeguarding their national funds.
She suggested that it’s high time we adopt a new approach. We need to safeguard our citizens against inflation and unwise economic decisions made by our governments.
Over the last few months, various countries have been considering the creation of reserves for Bitcoin. On December 16th, Donald Trump restated his intentions to establish a strategic Bitcoin reserve as part of his vision to turn America into the leading “crypto hub.” Furthermore, numerous states within the nation are currently working on passing bills to create Bitcoin reserves, with Texas, Alabama, and Pennsylvania being among them.
Before this, representatives from Japan and Russia have suggested to their governments the idea of creating a national Bitcoin reserve as a means to safeguard the financial resources of their countries.
On November 26th, lawmakers in Brazil’s Chamber of Deputies presented a proposal for a Bitcoin bill. This suggested legislation aims to cap Brazil’s Bitcoins holdings at around 18.5 billion US dollars.
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2024-12-17 16:47