{"id":4378,"date":"2024-12-17T23:33:15","date_gmt":"2024-12-17T23:33:15","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=4378"},"modified":"2024-12-17T23:33:15","modified_gmt":"2024-12-17T23:33:15","slug":"strategic-bitcoin-reserve-proposed-by-french-mep-to-bolster-eu","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=4378","title":{"rendered":"Strategic Bitcoin Reserve Proposed By French MEP To Bolster EU"},"content":{"rendered":"
\n

French Member of the European Parliament (MEP) Sarah Knafo delivered a high-profile address, urging the European Union (EU) to adopt a \u201cStrategic Bitcoin Reserve\u201d as part of a broader effort to promote financial autonomy and combat inflationary pressures.<\/p>\n

A French magistrate and member of the Cour des Comptes, Knafo\u2019s background includes public service and political advising, most notably for right-wing Jewish presidential candidate \u00c9ric Zemmour. Knafo\u2019s public role has steadily risen since her election to the European Parliament in 2024.<\/p>\n

Why The EU Needs A Strategic Bitcoin Reserve<\/h2>\n

In her speech on the Parliament floor, Knafo drew upon global examples\u2014citing El Salvador\u2019s early adoption of Bitcoin and political figures such as former US President Donald Trump and Federal Reserve Chairman Jerome Powell\u2014to underscore a rising wave of institutional acceptance. She asserted that the EU\u2019s current financial strategies put member states at a disadvantage within what she characterized as a rapidly evolving monetary landscape.<\/p>\n

\u201cAlready 3 years ago, on the other side of the Atlantic, the president of El Salvador decided to invest for his country in crypto-currencies,\u201d said Knafo, referencing El Salvador\u2019s 2021 legal tender law. \u201cAt the time, he was reviled by the political class and the IMF. Today, he\u2019s up 100%.\u201d<\/p>\n

Emphasizing a perceived missed opportunity for EU nations, Knafo argued that El Salvador\u2019s move<\/a> has yielded significant capital gains\u2014resources that, she said, the country has used to bolster both \u201cthe security and sovereignty of his country.\u201d Turning to the United States, she acknowledged that \u201cDonald Trump will establish<\/a> a strategic Bitcoin reserve for the United States.\u201d.<\/p>\n

Knafo also invoked the public stance of Federal Reserve Chairman Jerome Powell<\/a>, stating that \u201cJerome Powell [\u2026] is now talking about it as \u2018digital gold.\u2019\u201d She positioned these developments as signs that other major economies are adapting to decentralized finance, while \u201cthe European Union [\u2026] continues to accumulate tragically inflationary deficits,\u201d with existing regulatory measures that she criticized as overly restrictive.<\/p>\n

\u201cWe don\u2019t want this dystopian world,\u201d Knafo warned, referencing the European Central Bank\u2019s work on a digital euro<\/a>. \u201cWhere tomorrow a European bureaucrat will be able to prohibit us from certain transactions and even eliminate us from the banking system at the click of a button for something we say on social networks.\u201d<\/p>\n

Throughout her address, Knafo appealed for a wholesale shift in EU financial policy: \u201cIt\u2019s time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its own hands [\u2026] It\u2019s time to bet on freedom.\u201d<\/p>\n

She went on to advocate for a flourishing Bitcoin mining sector<\/a> in the EU, suggesting that France\u2019s nuclear energy infrastructure could supply a competitive edge. \u201cWe, the French, hold the cards with our nuclear trump card,\u201d she said, framing domestic power generation as an untapped enabler of large-scale mining operations.<\/p>\n

Knafo also addressed the need to adjust current taxation policies, urging lawmakers to \u201cstop taxing cryptocurrency holders\u201d and stressing that crypto-asset holders took personal risks to generate their wealth. She characterized existing government deficits as directly fueling inflation and economic instability: \u201cGovernment deficits that drive money creation [\u2026] create inflation, that lead to chaos [\u2026] Let them protect themselves from the insane spiral you\u2019ve created.\u201d<\/p>\n

At press time, Bitcoin traded at $106,947.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

French Member of the European Parliament (MEP) Sarah Knafo delivered a high-profile address, urging the European Union (EU) to adopt a \u201cStrategic Bitcoin Reserve\u201d as part of a broader effort to promote financial autonomy and combat inflationary pressures. A French magistrate and member of the Cour des Comptes, Knafo\u2019s background includes public service and political […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-4378","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4378"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4378\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}