In a prominent speech, French MEP Sarah Knafo called on the European Union (EU) to establish a \u201cStrategic Bitcoin Reserve\u201d to enhance financial independence and tackle inflation challenges.<\/p>\n
Knafo, a French magistrate with experience in public service and political advisory roles\u2014especially known for working with right-wing candidate \u00c9ric Zemmour\u2014has gained recognition since her election to the European Parliament in 2024.<\/p>\n
During her address, Knafo referenced international examples, including El Salvador’s early adoption of Bitcoin and notable figures like former US President Donald Trump and Federal Reserve Chair Jerome Powell, to illustrate a growing trend of acceptance. She argued that current EU financial approaches disadvantage member states amidst a changing monetary environment.<\/p>\n Knafo highlighted the benefits that El Salvador has reaped, including substantial capital gains that support the nation\u2019s security and sovereignty. She also mentioned that \u201cDonald Trump will establish a strategic Bitcoin reserve for the United States,\u201d indicating a forward movement towards cryptocurrency by major economies.<\/p>\n According to Knafo, Jerome Powell has also acknowledged Bitcoin\u2019s significance, calling it \u201cdigital gold.\u201d She interpreted these developments as evidence that leading economies are embracing decentralized finance, while the EU continues to grapple with inflation amidst stringent regulatory frameworks.<\/p>\n Knafo expressed concerns regarding the European Central Bank’s evolving role, warning against a future where bureaucrats might restrict transactions or exclude individuals from banking systems due to social media comments. \u201cWe don\u2019t want this dystopian world,\u201d she cautioned in regards to the digital euro.<\/p>\n She urged a complete overhaul of EU financial policies to reject the European Central Bank’s control over a digital euro, advocating instead for freedom: \u201cIt\u2019s time to bet on freedom.\u201d<\/p>\n Knafo proposed expanding Bitcoin mining in the EU and suggested that France’s nuclear energy capabilities would provide a competitive advantage. \u201cWe hold the cards with our nuclear strength,\u201d she asserted, presenting domestic energy production as a key factor for potential large-scale mining growth.<\/p>\n Moreover, Knafo called for revisions to existing tax regulations, advocating for the cessation of taxes on cryptocurrency holders. She underscored the personal risks crypto-asset holders undertake to create wealth, attributing government deficits to inflation and economic turbulence: \u201cThose deficits exacerbate inflation and disorder\u2026 Let people safeguard their interests from the turmoil you\u2019ve sparked.\u201d<\/p>\n As of now, Bitcoin is valued at $106,947.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" In a prominent speech, French MEP Sarah Knafo called on the European Union (EU) to establish a \u201cStrategic Bitcoin Reserve\u201d to enhance financial independence and tackle inflation challenges. Knafo, a French magistrate with experience in public service and political advisory roles\u2014especially known for working with right-wing candidate \u00c9ric Zemmour\u2014has gained recognition since her election to […]<\/p>\n","protected":false},"author":14,"featured_media":24870,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"French MEP Advocates for Strategic Bitcoin Reserve to Strengthen the EU Economy - Bitrabo","description":"In a prominent speech, French MEP Sarah Knafo called on the European Union (EU) to establish a \u201cStrategic Bitcoin Reserve\u201d to enhance financial independence and"},"footnotes":""},"categories":[316],"tags":[448,3581,1108,10720,1112,1106,3998],"class_list":["post-24869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bolster","tag-french","tag-mep","tag-proposed","tag-reserve","tag-strategic"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=24869"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/24869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/24870"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=24869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=24869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=24869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}