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Bitcoin ETFs have overtaken gold ETFs in the U.S. as of December 2024, reflecting a shift in investor preferences towards digital assets. Meanwhile, the Federal Reserve's recent rate cut has led to increased volatility in the crypto market, impacting major currencies like Bitcoin and Ether.In legal news, Binance faces accusations of plagiarism over the memecoin PNUT, which could set a precedent for intellectual property rights in the sector. Additionally, a Trump-backed project has invested $2.5 million in Ethereum, aiming to bolster the crypto industry amidst ongoing economic challenges.
European Parliament member Sarah Knafo has proposed establishing a strategic Bitcoin reserve for Europe, inspired by similar moves in the US under Donald Trump's administration. Knafo argues this would protect citizens from inflation and opposes the European Central Bank's digital euro plans, citing concerns over economic freedom. Amidst this, Bitcoin's price has surged to an all-time high, reflecting growing global interest in the cryptocurrency.
French MEP Sarah Knafo has called for the EU to establish a "Strategic Bitcoin Reserve" to enhance financial autonomy and combat inflation. Citing El Salvador's successful Bitcoin adoption and the evolving stance of major economies, she criticized current EU financial strategies as overly restrictive and urged for a shift towards decentralized finance. Knafo emphasized the potential of France's nuclear energy for Bitcoin mining and advocated for tax reforms to support cryptocurrency holders.
European Parliament member Sarah Knafo has proposed establishing a Bitcoin strategic reserve for the EU, echoing optimism from the US under President-elect Donald Trump, who plans a similar initiative. Knafo criticized the European Central Bank's digital euro plans, advocating for Bitcoin as a means to protect against inflation and promote financial freedom. This proposal has contributed to a Bitcoin price rally, reaching an all-time high of $107,780.58, with expectations of continued growth amid increasing institutional interest.
European MP Sarah Knafo has called for the EU to establish a Strategic Bitcoin Reserve, opposing the European Central Bank's digital euro initiative. She argues that Bitcoin serves as a decentralized safeguard against inflation and poor monetary policies, citing El Salvador's successful adoption of Bitcoin as legal tender as a model for European nations to follow. Knafo warns that the ECB's digital euro could lead to excessive centralized control, advocating instead for financial independence through Bitcoin.
French MP Sarah Knafo advocates for a Bitcoin strategic reserve in Europe, opposing the European Central Bank's plans for a digital euro, which she warns could lead to a "dystopian world" of transaction control. Her party holds only five of the 81 French seats in the European Parliament, making her proposal unlikely to gain traction. Meanwhile, the ECB is progressing on offline digital euro payments, though a final decision on its launch is still pending.
Sarah Knafo
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European MP advocates for Bitcoin reserve amid concerns over digital euro
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