EU urged to follow El Salvador’s lead with Bitcoin reserves by European MP

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 mission.

On December 17 video shared on As an alternative, she advocated Bitcoin as a decentralized hedge in opposition to inflation and dangerous financial coverage.

Knafo acknowledged {that a} strategic Bitcoin reserve would align the EU with world monetary developments whereas selling resilience to financial uncertainty.

Bitcoin as a strategic asset

Knafo wrote:

“NO to the digital euro. YES to a strategic reserve of BITCOIN.”

The lawmaker pointed to El Salvador as an excellent 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 its nationwide Bitcoin funding double in worth.

Knafo famous that these monetary positive aspects have elevated financial safety and empowered residents, offering a mannequin for European international locations to repeat. She urged EU international locations to acknowledge Bitcoin’s strategic significance and comply with El Salvador’s instance by increase their reserves.

The legislator additionally referred to the altering angle in the USA. Federal Reserve Chairman Jerome Powell’s description of Bitcoin as “digital gold” and newly elected President Donald Trump’s evolving stance spotlight 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 alerts a transfer in the direction of extreme centralized management.

She acknowledged:

“It is time to change the paradigm. It’s time to shield our individuals from inflation and the poor financial decisions of our states. It’s time to say no to the totalitarian temptations of the European Central Financial institution, which desires to place a digital euro solely in its fingers.”

As an alternative, she argued that Bitcoin affords a decentralized different, empowering residents and selling monetary independence.

Knafo concluded by calling on European leaders to undertake a progressive monetary technique. She argued that Bitcoin would allow the EU to safe its financial future, strengthen resilience and uphold the rules of monetary freedom.

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