German Lawmaker Joana Cotar Calls 50K Bitcoin Sale By Her Nation A 'Monumental Missed Opportunity,' Says Holding King Crypto As 'Strategic Reserve' Could Reduce US Dollar Dependence
Portfolio Pulse from Aniket Verma
German lawmaker Joana Cotar criticized the recent sale of 50,000 Bitcoin by the German government, calling it a 'monumental missed opportunity.' She argued that holding Bitcoin as a strategic reserve could reduce dependence on the US dollar and provide long-term value. Cotar also suggested regulatory changes to allow government institutions to hold Bitcoin and proposed tax incentives for clean energy-powered Bitcoin mining.
July 28, 2024 | 1:30 pm
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The sale of 50,000 Bitcoin by the German government has been criticized by lawmaker Joana Cotar, who believes it was a missed opportunity to hold Bitcoin as a strategic reserve. This could impact Bitcoin's price in the short term due to the large volume sold.
The sale of a large volume of Bitcoin by a government can create downward pressure on its price. Joana Cotar's criticism highlights the potential long-term value of holding Bitcoin, but the immediate impact is likely negative due to the market absorbing a significant amount of BTC.
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