In a recent turn of events, German legislator Joana Cotar has made a public plea to the national authorities, urging an immediate halt to the sale of the country’s Bitcoin holdings. The move comes as a response to the significant impact these sales have had on the cryptocurrency’s market value.
**Article Rework:**
Title: **German Parliamentarian Urges Halt to Government Bitcoin Sales**
In an unprecedented appeal, **Joana Cotar**, a member of the German Parliament, has voiced a strong request to the federal administration, advocating for a cessation of Bitcoin disposals. This petition arises amidst concerns that the ongoing liquidation of Bitcoin by the government is casting a shadow over its market price.
**Elif Azra Güven** reports on July 5, 2024, at 09:22, with a recent update just moments ago, that the German government’s substantial Bitcoin sales in the preceding weeks have sent ripples through the market, leading to a noticeable downturn in Bitcoin’s valuation.
The combined pressure from the Mt.Gox reimbursements and the government’s sell-off has precipitated a steep fall in Bitcoin’s price, which has reverberated across the entire cryptocurrency landscape. In light of this, Cotar has stepped forward, calling for an end to the government’s Bitcoin sales, citing the detrimental repercussions they have on both the price of Bitcoin and the broader market.
Cotar has taken the initiative to communicate the adverse effects of these sales to prominent figures such as **Michael Kretschmer**, the deputy chairman of the CDU, **Christian Lindner**, the Federal Finance Minister, and **Chancellor Olaf Scholz**.
Highlighting Bitcoin’s virtues as an asset for diversification and a hedge against inflation, Cotar has extended an invitation to the aforementioned officials to attend a conference. This event, featuring Bitcoin proponent **Samson Mow**, is scheduled for October 17, aiming to foster a deeper understanding of Bitcoin’s potential.
In a related development, **Justin Sun**, the founder of Tron, has expressed his willingness to acquire the German government’s Bitcoin through an over-the-counter transaction. This gesture is intended to mitigate the impact on Bitcoin’s price.
**Joana Cotar: A Bitcoin Visionary**
As the architect of the “Bitcoin in the Federal Assembly (Bundestag)” initiative, Cotar stands as a fervent supporter of Bitcoin. She characterizes the initiative as a bipartisan effort launched in her capacity as a member of Parliament, with the goal of presenting a holistic view of Bitcoin to both politicians and the public.
Cotar contends that Bitcoin represents a groundbreaking discovery, one that holds the promise of instigating enduring and beneficial changes to the autonomy of citizens as well as our economic and financial infrastructures. She believes that Bitcoin facilitates secure, swift, and cost-effective international transactions, and heralds a wealth of prospects for innovation and economic advancement.
**Disclaimer:** The content presented here is not intended as investment advice.
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