Bitcoin reserves in the EU? 'No to CBDC, yes to BTC,' says MP

The debate over the future of digital currencies has taken a new turn with a speech by MEP Sarah Knafo. In a speech that echoed throughout the halls of the European Parliament, Knafo made a bold plea: instead of pushing ahead with the development of the digital euro, the European Union should invest in a strategic reserve of Bitcoin .

The digital euro is a central bank digital currency (CBDC) being developed by the European Central Bank (ECB). Knafo’s proposal, which is positioned as a strong critique of overregulation in the cryptocurrency sector, has sparked heated debate.

The French parliamentarian argues that Bitcoin, with its decentralized nature, represents a safer alternative that is free from the “totalitarian temptations” of central banks such as the ECB. Knafo sees Bitcoin as a way to protect the European economy from financial crises and guarantee the financial freedom of citizens. The parliamentarian argued that a strategic reserve of Bitcoin could serve as a reserve asset, similar to gold, and protect Europe from possible devaluations of the single currency.

“No to the digital euro, yes to a strategic reserve of Bitcoin”, wrote in a post on the X platform, in which he shared a video of his speech before the European Parliament.

In her speech, the parliamentarian emphasized that it is time to end the “totalitarian temptations” of the European Central Bank (ECB), and called for a change aimed at regulatory excess in the region regarding cryptocurrencies to adopt the decentralized nature of Bitcoin.

“It is time to change the paradigm. It is time to protect our people from inflation and the bad economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,” Knafo said.

Bitcoin Hits $107.000 on Trump's Reserve Plan

Bitcoin reached a historic milestone on Monday, surpassing $107.000. driven due to a combination of factors. The expectation of an interest rate cut by the Federal Reserve this week and statements by President-elect Donald Trump about the creation of a Bitcoin Strategic Reserve were the main drivers of this appreciation. The inclusion of MicroStrategy in the Nasdaq 100 index also increased optimism in the market, highlighting the growing institutional interest in cryptocurrencies.

During an interview with CNBC, Trump said he was considering creating a strategic reserve for Bitcoin, similar to the US Strategic Petroleum Reserve. He commented, “Yeah, I think so,” reinforcing the idea that the country could lead the global cryptocurrency scene.

At the time of publication, the price of Bitcoin was quoted at US$107.092, up 2.9% in the last 24 hours.