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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 mission.
In a Dec. 17 video shared on X, Knafo criticized the ECB’s plan for a centralized digital forex, 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 international 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 main 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 acquire has improved financial safety and empowered residents, providing a mannequin that European international locations might replicate. She urged EU nations to acknowledge Bitcoin’s strategic significance and comply with El Salvador’s lead by constructing their reserves.
The lawmaker additionally referenced shifting attitudes in america. 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 decisions 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 completely in its palms.”
As an alternative, she argued that Bitcoin provides a decentralized different, 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.