French Parliament Member Sarah Knafo is pushing the EU to “bet on Bitcoin” by creating national strategic Bitcoin reserves while firmly opposing the European Central Bank’s plan for a digital euro. In a speech shared in parliament on her X account on Dec. 17, Knafo called on European nations to build national Bitcoin reserves, develop the crypto mining industry, and cease increasing taxes on crypto holders.
She stated, “It’s time to bet on freedom, it is time for our states to bet on Bitcoin. To build national strategic reserves. It is time to develop the mining industry.” Knafo took the opportunity to criticize the digital euro plan, arguing that it would give the bank excessive power over people’s finances due to its centralized nature.
At the start of her speech, she cited El Salvador’s 2021 investment in cryptocurrency and Donald Trump’s commitment to a U.S. strategic Bitcoin reserve as examples of the global shift towards decentralized finance. She mentioned Bitcoin’s milestone of surpassing $100,000 and the U.S. Fed Chairman’s comparison of Bitcoin to gold.
Knafo also criticized the EU for clinging to traditional finance systems that are vulnerable to economic crises like inflation and deficits, claiming the EU “is squandering our money on unbelievable mismanagement” by refusing to adopt crypto as a more reliable option for storing national funds. She emphasized the need for a paradigm shift to protect people from inflation and poor economic choices.
In recent months, multiple nations have shown interest in building Bitcoin reserves. Trump reaffirmed his plans on Dec. 16. States in the U.S. like Texas, Alabama, and Pennsylvania are working on related bills. Lawmakers in Japan and Russia have previously urged their governments to consider establishing reserves, and Brazilian legislators proposed a Bitcoin bill on Nov. 26 to limit Brazil’s reserves to around $18.5 billion worth of Bitcoin.
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