30s Summary

European Parliament member, Sarah Knafo, calls for the European Union (EU) to build a strategic Bitcoin reserve and reject the European Central Bank’s (ECB) push for a digital euro. Asserting that the ECB’s controlling approach to cryptocurrency slows innovation, Knafo persuades the EU to adopt Bitcoin’s decentralized model. She points out Bitcoin-friendly countries such as El Salvador, and the apparent endorsement of Bitcoin as ‘digital gold’ by U.S Federal Reserve Chief, Jerome Powell.

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Sarah Knafo, a recent member of the European Parliament, has been calling for the European Union to start stashing up on Bitcoin. At the same time, she’s not really into the whole “digital euro” idea that the European Central Bank (ECB) is trying to roll out. Knafo, who is from France, gave a speech recently where she pushed for Europe to start building a stockpile of Bitcoin.

“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo has been saying online, sharing video clips of her speech to the European Parliament. She’s a firm believer that it’s time to ditch the “let’s control everything” approach the ECB has been taking, particularly when it comes to crypto. Instead, she’s advocating for the EU to embrace the open and decentralized kind of setup Bitcoin has going on.

In her chat, Knafo compared how different places around the world are handling crypto. She brought up El Salvador’s move to adopt Bitcoin in 2021 and even the Bitcoin-friendly vibe incoming U.S. President Donald Trump seems to have. She also mentioned that U.S. Federal Reserve boss Jerome Powell once referred to Bitcoin as ‘digital gold’ last December.

But Europe, Knafo points out, seems to be taking a totally different route, with local rule makers mainly applying rules and taxes, and slowing down innovation. Knafo is clear that it’s time to switch gears, protect people from inflation, and unequivocally say no to the ECB’s desire to impose a digital euro that they alone would control.