European Union Member of Parliament Sarah Knafo has urged the bloc to prioritize a Strategic Bitcoin Reserve as an alternative of transferring ahead with the European Central Financial institution’s (ECB) digital euro venture.
In a Dec. 17 video shared on X, Knafo criticized the ECB’s plan for a centralized digital foreign money, arguing it dangers monetary freedom and overreach. As an alternative, she advocated for Bitcoin as a decentralized safeguard in opposition to inflation and poor financial insurance policies.
Knafo acknowledged {that a} strategic Bitcoin reserve would align the EU with world monetary traits whereas fostering resilience in opposition 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 a major instance of Bitcoin’s potential. Regardless of worldwide skepticism, El Salvador adopted Bitcoin as a authorized tender three years in the past and has since seen its nationwide Bitcoin funding double in worth.
Knafo famous that this monetary achieve has improved financial safety and empowered residents, providing a mannequin that European international locations may replicate. She urged EU nations to acknowledge Bitcoin’s strategic significance and observe El Salvador’s lead by constructing their reserves.
The lawmaker additionally referenced shifting attitudes in the US. Federal Reserve Chair Jerome Powell’s description of Bitcoin as “digital gold” and President-elect Donald Trump’s evolving stance spotlight 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 towards extreme centralized management.
She acknowledged:
“It’s time to change the paradigm. It’s time to defend our folks from inflation and the poor financial selections of our states. It’s time to say no to the totalitarian temptations of the European Central Financial institution, which needs to impose a digital euro fully in its arms.”
As an alternative, she argued that Bitcoin presents a decentralized various, empowering residents and fostering monetary independence.
Knafo concluded by calling on European leaders to undertake a forward-thinking monetary technique. She argued that Bitcoin would enable the EU to safe its financial future, strengthen resilience, and uphold the ideas of economic freedom.