Bitcoin Can Combat Inflation, Says German MP Joana Cotar

German MP Joana Cotar recently discussed Bitcoin’s potential to address inflation during the Bitcoin Amsterdam conference. She emphasized the importance of financial freedom and the role of Bitcoin in achieving it.

Cotar’s views reflect a growing belief among some politicians that cryptocurrencies can positively impact economies. Cotar said most of the German population is dissatisfied with the current government.

She said that only 0 to 3% of Germans would support continuing existing leadership. Due to the disconnect between politicians and the public, she added, the dissatisfaction has been growing.

– Advertisement –

Cotar also said that as an independent MP, she can speak openly about Bircoin’s direction and that many politicians do not understand the political landscape around cryptocurrency. She wants to change the narrative around digital currencies by highlighting their potential.

Cotar Advocates Bitcoin as Shield Against Inflation

In her address, Cotar called for financial reform, which she said was necessary to avoid the damaging effects of inflation. Inflation reduces purchasing power and affects citizens’ monthly livelihoods, she said. Bitcoin shields against this inflation and thus helps the wealth and freedom of money.

Cotar’s journey into cryptocurrency started in 2013 when her brother urged her to invest in Bitcoin. She wishes she had listened to this advice sooner, but she gives her brother credit for being wise. After studying videos about the crypto’s economic principles, her interest grew.

This awakened Cotar, and she became the advocate for Bitcoin in her political party. However, she was opposed by party members who disagreed with her. If she leaves her party, they can champion issues she believes in.

Viewed as Volatile Asset in Germany

“In Germany, the misinformation around Bitcoin is serious,” Cotar said, criticizing the information circulating in Germany’s parliament. Campaigns against the crypto are popular among politicians who see it as a tool for crime or environmental harm.

To combat these misconceptions, Cotar is trying to educate her colleagues on Bitcoin’s capabilities. She argued that there should be more education about Bitcoin in political debates.

Cotar believes politicians can make more informed decisions once other politicians inform them about the advantages of cryptocurrency. Many people think they understand what the leading crypto would do, but her point was that so many misconceptions result from needing to understand its functionalities.

Currently, Bitcoin is viewed in Germany as a volatile asset that must be sold quickly. But Cotar says this classification keeps it from gaining acceptance and its potential growth. She also called on lawmakers to reconsider this perspective to create a better context for Bitcoin.

Cotar Encourages Public Support

Cotar’s advocacy goes beyond education; she looks to politicians and the general public to act. She suggests that Bitcoin supporters contact their local MPs and spread the word about digital currencies. Fostering the conversation is her hope of leading legislators to the changes they can pass to support cryptocurrency adoption, she said.

Cotar also voiced his frustration at the slow pace of change in German politics toward Bitcoin. Politicians, she said, could learn about Bitcoin’s advantages and consider putting it in the financial system.

She argued for a well-crafted Bitcoin strategy for nations and the well-being of their people, encouraging governments to take back control of their monetary policies and lay the ground for future economic stability.