HODL

Bitcoin

when

Arkham

<a href="https://bitcoinworld.co.in/german-lawmaker-wants-government-to-hodl-bitcoin-btc-not-sell/" title="German Lawmaker Wants Government To HODL Bitcoin (BTC), Not Sell" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">German lawmaker Joana Cotar has slammed the government for its consistent sales of Bitcoin (BTC) when it is supposed to HODL</li>
</ul>
The German government’s frequent transfer (and subsequent sales) of <a href="https://bitcoinworld.co.in/bitcoin-btc-price-takes-a-5-hit-can-bulls-save-the-week/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) to exchanges, is making crypto enthusiasts uncomfortable and a few people have voiced their concerns.
<h3 id="span-style-font-weight-400-stop-german-government-s-bitcoin-transfer-span">Stop German Government’s Bitcoin Transfer</h3>
In the last few weeks, the German government has been performing a lot of transactions that involved the transfer of BTC.&nbsp;
Earlier on Thursday, the German government allegedly offloaded another 1,300 Bitcoin (BTC) to major crypto exchanges.
Notably, 500 BTC worth $29.05 million went to Bitstamp, according to blockchain analytics <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" rel="noopener noreferrer nofollow">firm</a> Arkham Intelligence.&nbsp;
Similarly, the German government transferred 400 BTC worth $23.24 million to Coinbase, and another 400 BTC to Kraken.&nbsp;
Arkham Intelligence noted that the total offloading consisted of nearly $76 million. It is worth noting that the price of Bitcoin dropped below $58,000 shortly after this massive liquidation, raising concerns of a further dip.
In response to this liquidation, Joana Cotar, an independent member of the Bundestag, <a href="https://twitter.com/JoanaCotar/status/1808888782738911614" rel="noopener noreferrer nofollow">slammed</a> the government’s action, asking that it stop its Bitcoin selling spree.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Statt <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> als strategische Reservewährung zu halten, wie es in den USA bereits debattiert wird, verkauft unsere Regierung im großen Stil. Ich habe <a href="https://twitter.com/MPKretschmer?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MPKretschmer</a>, <a href="https://twitter.com/c_lindner?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@c_lindner</a> &amp; <a href="https://twitter.com/Bundeskanzler?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Bundeskanzler</a> <a href="https://twitter.com/OlafScholz?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@OlafScholz</a> darüber informiert, warum dies nicht nur nicht sinnvoll, sondern… <a href="https://t.co/v9FpzmfLbp" rel="noopener noreferrer nofollow">pic.twitter.com/v9FpzmfLbp</a>
 — Joana Cotar (@JoanaCotar) <a href="https://twitter.com/JoanaCotar/status/1808888782738911614?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 4, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Cotar directed her grievances to Michael Kretschmer, one of the deputy chairs of the CDU, Christian Lindner, the Federal Minister of Finance, and Chancellor Olaf Scholz. In her words, the action is “counterproductive.”
She believes that Bitcoin provides “a unique opportunity” for investors to diversify their assets and did not fail to voice her opinion to the officials.&nbsp;
Cotar compared the capabilities of the leading cryptocurrency to that of traditional assets.&nbsp;
She noted that the former could help mitigate the risks involved in investing in the latter and experiencing excessive exposure.
Additionally, she extended an invitation for her upcoming lecture to them. The event is scheduled to hold on October 17 and will have Bitcoin evangelist Samson Mow in attendance.
<h3 id="span-style-font-weight-400-more-entities-sees-btc-as-inflation-hedge-span">More Entities Sees BTC as Inflation Hedge&nbsp;</h3>
Cotar sees the capacity of Bitcoin acting as a hedge against inflation and currency devaluation due to scarcity.&nbsp;
To a large extent, she is not the only one who feels this way about the flagship cryptocurrency.&nbsp; Jeremy Allaire, CEO of Circle, a leading financial technology firm, once highlighted the growing appeal of Bitcoin as a hedge against global economic instability.
Anthony Scaramucci of SkyBridge Capital once argued with Peter Schiff, a top proponent of gold, over Bitcoin’s place as an inflation hedge.&nbsp;
While Schiff raised arguments based on Bitcoin’s slow speed and high transaction costs as obstacles to its daily use, Scaramucci counteracted him by brandishing the coin’s fixed supply and the possibility of storing value for a long time.

German Lawmaker Wants Government To HODL Bitcoin (BTC), Not Sell

Table of Contents

ItsBitcoinWorld

Alte articole publicate pe 5 iul. 2024

Dogecoin Price Prediction: DOGE Plummets 9% As Whale Moves $41M Dogecoin, But This P2E DOGE Deriv...

MoonBag – The Top Crypto Presale in 2024 Wins over Slothana and Bonk Amidst their Issues

What’s Next For Ethereum (ETH) as Price Hovers $3,000?

Top Altcoin Airdrops July 2024

Mt. Gox Terror Strikes Markets, Bitcoin Faces Second-Largest Long Liquidation in History After FT...

Aptos Connect Simplifies Blockchain with Keyless Wallet Innovation

Join our free newsletter for daily crypto updates!