EU MP Warns Against Digital Euro, Urges Bitcoin Adoption

In a passionate speech at the European Parliament, Sarah Knafo , a Member of the European Parliament (MEP), strongly opposed the European Central Bank`s (ECB) plans for a digital euro while promoting Bitcoin as a better alternative for Europe. Knafo urged European nations to follow El Salvador’s example and build their own Bitcoin reserves to strengthen their economies during uncertain times. Knafo emphasized Bitcoin’s key benefits, including its decentralized system , fixed supply, and rising adoption worldwide. She described Bitcoin as a secure asset that governments could use to safeguard their economies and protect citizens from financial instability. Referring to El Salvador, Knafo highlighted its bold move to adopt Bitcoin as legal tender three years ago, despite global criticism. “El Salvador’s decision has already paid off,” she stated, noting that the country has seen its Bitcoin investment double. “Hundreds of millions of dollars are now available for their citizens, improving both sovereignty and security,” she added. Knafo didn’t hold back in her critique of the EU’s financial policies. She accused European leaders of poor financial management, creating enormous deficits, and pushing inflationary measures that harm everyday people. “The time has come to shield citizens from inflation and bad decisions made by governments,” she stressed, calling for a fundamental shift in how Europe handles its finances. She also raised serious concerns about the ECB’s digital euro plans. Knafo warned that such a system could give bureaucrats too much control, allowing them to restrict or block individual transactions with the click of a button. “This would open the door to totalitarianism,” she declared, underlining the need to protect financial freedom and individual rights. To address these challenges, Knafo proposed a clear path forward. She called on European countries to adopt Bitcoin, invest in the mining sector, and provide legal protection for cryptocurrency users by avoiding excessive taxation. “We must embrace freedom, face challenges without fear, and remain true to the values that define our civilization,” she concluded. Knafo’s speech highlighted a growing debate in Europe over the role of digital currencies. While the EU pushes for centralized solutions like the digital euro, advocates like Knafo argue for decentralized alternatives like Bitcoin , which they see as tools for financial independence and security. By pointing to El Salvador’s success, she aimed to show that embracing Bitcoin could offer Europe a viable and innovative solution to its economic challenges. With mounting concerns over inflation, rising deficits, and state control, Knafo’s message resonated with those seeking greater financial autonomy. Her vision is bold: a Europe that moves away from outdated systems and instead adopts innovative, decentralized technologies that empower individuals.

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Source: Coinpaprika