European Parliament Urges Strategic Bitcoin Reserve Over Digital Euro
European Union Member of Parliament Sarah Knafo has called for prioritizing a Strategic Bitcoin Reserve rather than moving forward with the European Central Bank’s (ECB) digital euro project.
Criticism of ECB’s Centralized Approach
In a video shared on X on Dec. 17, Knafo criticized the ECB’s plan for a centralized digital currency, warning about the risks it poses to financial freedom and overreach. She argued that Bitcoin, as a decentralized safeguard against inflation and poor monetary policies, would be a more suitable alternative.
Advocating for Bitcoin as a Strategic Asset
Knafo highlighted the importance of a strategic Bitcoin reserve in aligning the EU with global financial trends and building resilience against economic uncertainty. She mentioned that El Salvador’s adoption of Bitcoin as legal tender has led to a significant increase in national Bitcoin investment value, setting an example for other countries to follow.
- Bitcoin as a strategic asset
- El Salvador’s success with Bitcoin adoption
- Shifting attitudes in the US towards Bitcoin
Protecting Financial Freedom
Expressing concerns about the ECB’s push for a digital euro and centralized control, Knafo emphasized the need to protect citizens from inflation and poor economic choices. She advocated for Bitcoin as a decentralized alternative that empowers individuals and promotes financial independence.
Call for Forward-Thinking Financial Strategy
Knafo urged European leaders to adopt a forward-thinking financial strategy by recognizing Bitcoin’s strategic importance. She believes that embracing Bitcoin would help secure the EU’s economic future, enhance resilience, and uphold the principles of financial freedom.