This summer, Germany made headlines by selling 50,000 bitcoins (BTC). While MP Joana Cotar had opposed this, she believes that if the United States creates its Bitcoin reserve, European countries could follow. Will Germany reverse its decision?
Could Germany change its mind on Bitcoin (BTC)?
This summer, Germany made news by gradually selling its entire Bitcoin (BTC) reserve. This then amounted to 50,000 bitcoins seized in a legal case. This sale was then far from trivial, because before this decision, Germany was the 4th largest country in Bitcoin holdingswith almost 0.24% of the total supply.
If BTC was trading at $58,000 when the sale ended, the asset has since progressed by 32%, to see its price hovering around $76,500 at the time of writing these lines.
💡 How to easily invest in Bitcoin (BTC)?
While with the re-election of Donald Trump, the United States could well equip itself with a strategic reserve in the coming months, German MP Joana Cotar spoke on Friday, estimating that European countries could follow suit :
If the US buys Bitcoin as a strategic reserve, then I think all European countries will get FOMO [fear of missing out, ndlr].
Although it would be surprising if such a scenario were to come true in the short term, it is nevertheless a possible theory and the reaction of other countries will have to be monitored when the United States carries out its projects.
In this regard, Senator Cynthia Lummis, who brought this project to the Senate, announced Wednesday in the wake of Donald Trump's victory: “ We will build a strategic Bitcoin reserve “.
👉 Also in the news — Thanks to BlackRock, spot Bitcoin ETFs record record daily net inflows
Concerning Germany, such a turnaround in the situation would make one smile, because Joana Cotar had rightly criticized this sale of BTC a few months ago. Indeed, she then warned about the counter-productivity of this measure, extolling the merits of Bitcoin as a store of value in the face of inflation.
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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