Key Points

• French MEP and Vice-President of the ENS group addressed the need for European states to create Bitcoin reserves.
• Europe already acknowledged BTC mining as a solution to the continent’s energy crisis.

Europe is embracing Bitcoin after recently acknowledging BTC mining as a viable solution to the energy crisis that the continent is currently dealing with.

A Call for Europe to Create Bitcoin Reserves

A French Member of the European Parliament, Sarah Knafo, who is also the Vice-President of the ENS group emphasizing national sovereignty, just addressed the importance of freedom, saying that it’s time for the states to invest in Bitcoin National Strategic Reserves.

Michael Saylor also shared the video in which Knafo addresses the European Parliament.

Knafo debuted her speech by saying that three years ago, the President of El Salvador decided to invest in Bitcoin. In 2021, the country became the first in the world to adopt BTC as a legal tender.

El Salvador’s BTC Reserve

She mentioned that back then, Nayib Bukele was ridiculed by the political class in the country and the IMF.

However, the country’s BTC reserve shows a 100% return so far, with hundreds of millions of dollars available for the people, for its security and sovereignty.

As of today, December 17, El Salvador has over 5,966 coins on its BTC reserve sheets, worth almost $644 million, according to official data from the country’s BTC treasury.

A Global Revolution in DeFi

She continued and said that the entire world is now taking part in a revolution in decentralized finance. Knafo continued and mentioned Trump’s plans to create a US Strategic Bitcoin Reserve.

We also reported on the matter recently, highlighting that the new US President has confirmed an upcoming BTC reserve, along with other countries that are making the same moves, including Russia and Japan.

Knafo also said that the US Fed’s Chair, Jerome Powell, also recognized Bitcoin as “digital gold”.

European Union’s Persecution of Crypto Holders

As Bitcoin continues to reach new ATHs, Knafo asked the audience what the European Union doing in this regard.

According to her, the continent is currently spending people’s money, letting it go to waste while continuing to accumulate “tragically inflationary deficits.”

She said that the European Union insists on regulating, taxing, and holding back, but now, it’s time to change the paradigm. It’s time to protect the people from inflation and poor economic choices of the states.

Kanfo said that it’s time “to say no to the totalitarian temptations of the ECB” which wants to impose a fully controlled digital Euro.

She continued and highlighted that the people do not want this “dystopian world” where a European bureaucrat could tomorrow ban people from certain transactions or even kick people out of the banking system with a single click for inconvenient social media posts or opinions.

It’s Time for Freedom

“it’s time to bet on freedom,” she said. States should invest in Bitcoin to build national strategic reserves and develop the mining industry.

She continued and said that France holds the cards in this regard with their nuclear advantage. She believes that it is time for the states to stop taxing crypto holders, as it’s their intelligence, risks, and sleepless nights that have built their savings.

Knafo, pledged for crypto holders to be allowed to protect themselves from the “crazy spiral” involving the public deficit that drives money printing which leads to rising inflation, ultimately leading to chaos.

She concluded her speech saying that it’s time to dare to be free, and stop being afraid even of our own shadow. People in Europe should stay true to the ambition of their civilization.

However, things are not as grim in Europe, considering that we just reported that the continent is already seeing Bitcoin mining as a viable solution for the European energy crisis.