Germany Shouldn't Dump Bitcoin, It's a Smart Asset for Inflation Protection, Says Lawmaker

IconCryptoNewsTerminal Staff05 Jul, 2024

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Germany Shouldn't Dump Bitcoin, It's a Smart Asset for Inflation Protection, Says Lawmaker

German lawmaker Joana Cotar has urged the government to stop its aggressive sales of Bitcoin, calling it a valuable asset for inflation protection and diversification of state finances. In a series of tweets, Cotar highlighted the growing interest in Bitcoin from countries like the US and El Salvador. She emphasized that selling Bitcoin is unwise, especially given its potential to help protect against inflation and currency devaluation. Cotar's stance aligns with growing recognition of Bitcoin as a hedge against inflation. Its limited supply and decentralized nature make it an attractive option for individuals and governments seeking to preserve wealth in times of economic uncertainty. While some German officials have expressed concerns about Bitcoin's volatility, Cotar believes that long-term considerations should prevail. She argues that holding Bitcoin could benefit Germany's financial stability and strengthen its position in the global financial landscape.

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