Sara Knauf, a well-known economist and former member of the European Parliament, made an important statement at an international cryptocurrency conference, urging the European Union to adopt Bitcoin as a reserve currency. This proposal has attracted attention from financial circles, as Knauf is considered one of the leading experts in cryptocurrency and financial technology.
“Three years ago, across the Atlantic, President Bukele of El Salvador decided to invest in Bitcoin for his country. At the time, political elites and the IMF mocked him, but today his investment has increased by 100%. This is hundreds of millions of dollars now available to his people, securing the sovereignty and safety of his country. The world is now preparing to benefit from this revolution in DeFi. Donald Trump is preparing to create a strategic reserve for the US. Jerome Powell, Chairman of the Federal Reserve, now calls Bitcoin ‘digital gold’. Bitcoin is growing rapidly, and what is the European Union doing? It’s wasting our money on empty costs, accumulating inflationary deficits, and bringing the situation to tragic proportions. It continues to regulate and tax, slowing down the development of cryptocurrency. It’s time to change the paradigm, time to protect our citizens from inflation and the reckless economic decisions of our states. Time to say ‘No!’ to the totalitarian ambitions of the European Central Bank, which seeks to impose a fully controlled digital euro. We don’t want this dystopia, where tomorrow a European bureaucrat can ban specific transactions and even disconnect us from the banking system with a click. It’s time to bet on freedom, time for our countries to invest in Bitcoin. Time to create national Bitcoin reserves. Time to develop the mining industry. Let’s stop taxing cryptocurrency holders more and more. It is their intelligence, their risks, their sleepless nights that allowed them to create their savings. Let’s give them the opportunity to protect themselves from the insane spiral you created. Government deficits lead to money emission, creating inflation and chaos. Let’s dare to be free. Let’s stop fearing our own shadow. Let’s stay true to the ambitions of our civilization,” said Sara Knauf.
Why Bitcoin?
In her speech, Knauf emphasized that Bitcoin could become a key element in maintaining financial stability amid global instability and economic crises. She argued that the cryptocurrency has already proven its value as a hedge against inflation, and adopting it as a reserve currency could help Europe build a more stable financial system, independent from global economic powers like the US and China.
“Bitcoin has proven its ability to hedge against inflation, and its adoption will help create a more independent and stable financial system in Europe,” Knauf said.
Conclusion
Sara Knauf’s call for Bitcoin to be adopted as a reserve currency in the EU opens a new chapter in the discussion of the future of cryptocurrencies and blockchain technology in the global financial system. Despite the challenges, such initiatives could be an important step toward building a new financial architecture where cryptocurrencies play a key role in strengthening financial independence.
If Europe adopts Bitcoin as a reserve currency, it could mark a crucial step in the development of a global financial system based on decentralized technologies, providing greater financial stability and independence.
