In a passionate speech at the European Parliament, MEP Sarah Knafo voiced her strong disagreement with the European Central Bank’s (ECB) plans for a digital euro, promoting Bitcoin as a better option for Europe.
Knafo encouraged European countries to follow El Salvador’s example of adopting Bitcoin as legal tender three years ago, saying that accumulating Bitcoin reserves could strengthen economies in difficult times.
Knafo pointed out some benefits of Bitcoin, such as being decentralized, having a limited supply, and growing use around the world. She described Bitcoin as a safe asset that could assist governments in safeguarding their economies and citizens from financial instability.
She pointed out that El Salvador’s investment in Bitcoin has doubled, highlighting the advantages it has brought to its citizens, improving their independence and financial safety.
Knafo criticized the EU’s financial policies, saying that European leaders mismanaged them, resulting in big deficits and inflation that hurt the people. She urged a new way to manage European finances, focusing on protecting citizens from the effects of government mistakes.
Knafo expressed concerns about the possible effects of the ECB’s digital euro, cautioning that it might give bureaucrats too much control over personal transactions, which she saw as a step toward totalitarianism. She highlighted the need to protect financial freedom and personal rights.
Knafo suggested that European countries should use Bitcoin, invest in mining cryptocurrencies, and protect users from high taxes. She envisions a Europe that supports new, decentralized technologies, helping people and encouraging financial independence. Knafo’s speech shows a rising conversation in Europe about digital currencies, highlighting Bitcoin as a hopeful answer to the continent’s economic challenges with increasing inflation and government control.
