German Lawmaker Government HODL Bitcoin (BTC), Not Sell
The post German Lawmaker Government HODL Bitcoin (BTC), Not Sell appeared on BitcoinEthereumNews.com.
German lawmaker Joana Cotar has slammed the government for its consistent sales of Bitcoin (BTC) when it is supposed to HODL The German government’s frequent transfer (and subsequent sales) of Bitcoin (BTC) to exchanges, is making crypto enthusiasts uncomfortable and a few people have voiced their concerns. Stop German Government’s Bitcoin Transfer In the last few weeks, the German government has been performing a lot of transactions that involved the transfer of BTC. Earlier on Thursday, the German government allegedly offloaded another 1,300 Bitcoin (BTC) to major crypto exchanges. Notably, 500 BTC worth $29.05 million went to Bitstamp, according to blockchain analytics firm Arkham Intelligence. Similarly, the German government transferred 400 BTC worth $23.24 million to Coinbase, and another 400 BTC to Kraken. Arkham Intelligence noted that the total offloading consisted of nearly $76 million. It is worth noting that the price of Bitcoin dropped below $58,000 shortly after this massive liquidation, raising concerns of a further dip. In response to this liquidation, Joana Cotar, an independent member of the Bundestag, slammed the government’s action, asking that it stop its Bitcoin selling spree. Statt #Bitcoin als strategische Reservewährung zu halten, wie es in den USA bereits debattiert wird, verkauft unsere Regierung im großen Stil. Ich habe @MPKretschmer, @c_lindner & @Bundeskanzler @OlafScholz darüber informiert, warum dies nicht nur nicht sinnvoll, sondern… pic.twitter.com/v9FpzmfLbp — Joana Cotar (@JoanaCotar) July 4, 2024 Cotar directed her grievances to Michael Kretschmer, one of the deputy chairs of the CDU, Christian Lindner, the Federal Minister of Finance, and Chancellor Olaf Scholz. In her words, the action is “counterproductive.” She believes that Bitcoin provides “a unique opportunity” for investors to diversify their assets and did not fail to voice her opinion to the officials. Cotar compared the capabilities of the leading cryptocurrency to that of traditional assets. She…
Filed under: News - @ July 5, 2024 6:14 pm