European Union Member of Parliament Sarah Knafo has recently made a bold statement, urging the EU to prioritize establishing a Strategic Bitcoin Reserve over moving forward with the European Central Bank’s digital euro project. In a video shared on X on December 17, Knafo expressed her concerns about the risks associated with a centralized digital currency and advocated for Bitcoin as a decentralized safeguard against inflation and poor monetary policies.
Knafo emphasized the importance of a strategic Bitcoin reserve in aligning the EU with global financial trends and enhancing resilience against economic uncertainty. She highlighted the example of El Salvador, a country that adopted Bitcoin as a legal tender three years ago and has since seen significant growth in its national Bitcoin investment.
The lawmaker pointed out that El Salvador’s experience with Bitcoin has not only led to financial gains but has also improved economic security and empowered its citizens. Knafo urged European countries to recognize Bitcoin’s strategic importance and follow in El Salvador’s footsteps by building their reserves.
She also referenced the shifting attitudes towards Bitcoin in the United States, citing Federal Reserve Chair Jerome Powell’s characterization of Bitcoin as “digital gold” and President-elect Donald Trump’s evolving stance on the cryptocurrency. These developments indicate a growing recognition of Bitcoin’s potential as a reliable financial asset.
Knafo expressed concerns about the ECB’s push for a digital euro, warning that it could lead to excessive centralized control. She called for a change in the paradigm to protect people from inflation and poor economic choices made by states. Instead of a digital euro, Knafo argued that Bitcoin offers a decentralized alternative that empowers citizens and promotes financial independence.
In conclusion, Knafo called on European leaders to adopt a forward-thinking financial strategy by prioritizing a Strategic Bitcoin Reserve. She emphasized that Bitcoin could help secure the EU’s economic future, strengthen resilience, and uphold the principles of financial freedom.
The integration of a Strategic Bitcoin Reserve into the EU’s financial strategy could potentially reshape the region’s approach to economic policy and position it at the forefront of the evolving digital economy. As global trends continue to shift towards decentralized financial systems, embracing Bitcoin as a strategic asset could be a proactive step towards ensuring financial stability and independence for the EU and its citizens.