EU Lawmaker Sarah Knafo Advocates for Strategic Bitcoin Reserve, Cautions Against Digital Euro

Highlights:

• European lawmakers urge the EU to create a BTC reserve and reject the digital euro.
• Sarah Knafo praises El Salvador’s Bitcoin success and encourages European nations to follow.
• Knafo criticizes EU policies, warning that the digital euro risks totalitarian financial control.

In a pro-Bitcoin speech at the European Parliament, Sarah Knafo, a French magistrate and a member of the European Parliament, urged the EU to create a strategic Bitcoin reserve. She also opposed the proposed adoption of the “digital euro,” a central bank digital currency (CBDC) under development by the European Central Bank (ECB). 

Knafo highlighted Bitcoin’s decentralized nature and fixed supply as key benefits. She also pointed to its growing global adoption, urging governments to consider it as a secure asset for national reserves, particularly during times of economic uncertainty. Knafo expressed her stance in an X post, saying, “No to the digital euro, yes to a strategic Bitcoin reserve,” and shared a video of her speech at the European Parliament.

❌NO to the digital euro
✅ YES to a strategic reserve of BITCOIN 🔥

(Speech in French at the European Parliament, translated by IA) pic.twitter.com/QDmdodpDEQ

— Sarah Knafo (@knafo_sarah) December 17, 2024

Knafo Highlights El Salvador’s Success and Advocates for a Strategic BTC Reserve

Knafo highlighted the success of El Salvador, which made Bitcoin legal tender three years ago. The country defied political and financial critics. She mentioned that today, El Salvador’s investment has grown by 100%. Hundreds of millions of dollars are now available for its people, which has boosted their security and sovereignty. She urged European nations to follow El Salvador’s example and build their own Bitcoin reserves. 

She also highlighted the crypto-friendly stance of United States President-elect Donald Trump’s incoming administration. Additionally, she mentioned that US Federal Reserve Chair Jerome Powell referred to Bitcoin as “digital gold” in early December.

Knafo Criticizes EU Policies and Warns Against the Digital Euro’s Totalitarian Risks

Sarah Kanfo criticized the European Union’s economic policies. She accused the EU of mismanaging finances and creating large deficits. She also pointed out that inflationary policies harm ordinary citizens.

Knafo expressed concerns about the dangers of a digital euro. She warned it could allow European bureaucrats to control transactions. She described it as a potential totalitarian move and highlighted the importance of financial freedom.

Knafo said:

“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands.”

Bitcoin Soars as Institutions and Countries Embrace Crypto

Bitcoin has been attracting investors recently due to its strong rally. The significant inflow into the US Spot Bitcoin ETF shows growing institutional interest. Additionally, Michael Saylor’s MicroStrategy has continued buying BTC, even as prices hit new records daily.

Countries like Japan and Bhutan are shifting towards crypto adoption. This shows a growing global trend. Market experts remain optimistic about Bitcoin’s future. BTC price rose 3.38% to $107,668, with trading volume up 19% to $77 billion. It hit an ATH of $107,780.58. Optimism grew over a potential US Bitcoin Strategic Reserve under Trump.