Amid increasing Bitcoin sell pressure in the market, Bundestag member Joana Cotar suggested that the German government hold Bitcoin to increase national wealth.
The current trade price of Bitcoin (BTC) is $56,477 & this trade price is 20% down over the last 30 days period.
Bitcoin sell pressure
Currently, the sell pressure in the Bitcoin market is high as both the US and German government authorities are selling their Bitcoin holdings. This Bitcoin was seized from bad actors involved in illicit activities.
Despite this bearish moment, the majority of crypto analysts remain optimistic and view these significant corrections as part of larger, potentially massive rallies.
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The German government recently moved over $195 million worth of Bitcoin to various crypto exchanges, including Coinbase, Kraken, and Bitstamp.
By addressing such issues, Bundestag member Joana Cotar slammed such decisions & suggested holding Bitcoin in the form of reserves.
German MP Joana suggested that the German government should refrain from selling the seized Bitcoins from the Movie2kto investigation. Instead, she proposed using Bitcoin as a national strategic reserve to stabilise the cryptocurrency market and prevent long-term negative impacts on btc price stability.
Justin Sun’s offer to Germany government
The popular and controversial crypto entrepreneur, founder of the Tron ($TRX) blockchain, Justin Sun offered to buy Bitcoin directly from the German government if they permit him to do so.
Sun expressed his willingness to discuss with the German government about purchasing all Bitcoin off-market to reduce its impact on the market.
The Tron founder’s proposal acted as a catalytic factor for bullish sentiment around the Tron (TRX) coin. The trade price of TRX coin has reached high levels across all metrics—daily, monthly, and yearly.
Read also: Taiwan Mobile Ventures into Crypto: Secures VASP License to Launch Cryptocurrency Exchange
German MP Joana Cotar Proposes Bitcoin as Germany’s Reserve Currency
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