European Union MP Sarah Knafo has urged the bloc to prioritize a strategic Bitcoin reserve as a substitute of shifting ahead with the European Central Financial institution's (ECB) digital euro venture.
In a December 17 video shared on X, Knafo criticized the ECB's plan for a centralized digital foreign money, arguing that it endangers monetary freedom and overreach. As an alternative, she advocated for Bitcoin as a decentralized hedge towards inflation and unhealthy financial insurance policies.
Knafo stated a strategic Bitcoin reserve would align the EU with world monetary traits whereas selling resilience within the face of financial uncertainty.
Bitcoin as a strategic asset
Knafo wrote:
“NO to the digital euro. YES to a strategic reserve of BITCOIN.
The lawmaker cited El Salvador as a main instance of Bitcoin’s potential. Regardless of worldwide skepticism, El Salvador adopted Bitcoin as authorized tender three years in the past and has since seen the worth of its nationwide Bitcoin funding double.
Knafo famous that this monetary achieve improved financial safety and empowered residents, offering a mannequin that European nations might replicate. She urged EU nations to acknowledge the strategic significance of Bitcoin and comply with El Salvador's instance by strengthening their reserves.
The lawmaker additionally referred to a change in perspective in the US. Federal Reserve Chairman Jerome Powell's description of Bitcoin as “digital gold” and President-elect Donald Trump's evolving stance underscore the rising recognition of BTC's potential as a dependable monetary asset.
Defending monetary freedom
Knafo warned that the ECB's push for a digital euro indicators a transfer in direction of extreme centralized management.
She stated:
“It’s time for a paradigm shift. It’s time to shield our populations from inflation and the unhealthy financial selections of our States. It’s time to say no to the totalitarian temptations of the European Central Financial institution, which needs to impose a digital euro.”
As an alternative, she argued that Bitcoin gives a decentralized different, empowering residents and selling monetary independence.
Knafo concluded by calling on European leaders to undertake a forward-thinking monetary technique. She argued that Bitcoin would allow the EU to safe its financial future, strengthen its resilience and respect the ideas of monetary freedom.
