German MP Joana Cotar holds BTC and says the government should stop selling

German MP Joana Cotar, who has criticized her government for failing to hold bitcoin as a ‘strategic reserve currency,’ has revealed she holds the crypto as part of her portfolio.

Crypto accounts controlled by the German government received 1,915 BTC ($111.5 million) last night as part of an apparent ongoing sell-off. Cotar described the sale of bitcoin as ‘not sensible,’ and ‘counterproductive’ in a translated post on X (formerly Twitter).

Cotar’s post included images of a letter she sent to Germany’s prime minister that asked the government to urgently “refrain from hastily selling the bitcoin in state possession.”

When asked if Cotar held any bitcoin, she told Protos, “A fraction of my portfolio is bitcoin.”

Statt #Bitcoin als strategische Reservewährung zu halten, wie es in den USA bereits debattiert wird, verkauft unsere Regierung im großen Stil. Ich habe @MPKretschmer, @c_lindner & @Bundeskanzler @OlafScholz darüber informiert, warum dies nicht nur nicht sinnvoll, sondern… pic.twitter.com/v9FpzmfLbp
— Joana Cotar (@JoanaCotar) July 4, 2024

Cotar’s post on X. Samson Mow is holding a lecture with Cotar called ‘Bitcoin Strategies for Nation States.’

“Holding bitcoin as a strategic reserve asset could be helpful for any nation-state,” she added. “We work on these topics with experts like Samson Mow.”

Cotar is the founder of ‘Bitcoin in the Bundestag,’ a non-partisan initiative that hopes to educate politicians and citizens on Bitcoin. “As a member of the Bundestag, it is important to me to use my party-political independence to advocate for Bitcoin,” she said.

Bitcoin prices have dropped this week as the US and German governments move large amounts of the currency to crypto exchanges. Additionally, the defunct exchange Mt. Gox also announced the start of repayments today and began moving 47,229 BTC ($2.71 billion) across to various parties.

Bitcoin’s price fell below $54,000 this morning and currently sits at $55,470. According to Arkham Intelligence, the German government holds 41,224 BTC, worth almost $2.3 billion at the time of writing.

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.