Germany's Bitcoin Push: A New Digital Currency Standard?
German regulators are accelerating blockchain and Bitcoin integration into its banking system. Parliamentarians and resource people discussed many important recommendations to assist the government accomplish its goal at a Blockchain Roundtable held by Fraktion der Freien Demokraten and Frank Schäffler.
German authorities including former Finance Minister Christian Lindner and Circle CEO Patrick Hansen attended the roundtable debate in the German Parliament.
Former Finance Minister Christian Lindner attended the Blockchain Roundtable and addressed how the German government might accelerate its blockchain and Bitcoin adoption.
Lindner suggests three ways the government may compete in this business. The German government may issue blockchain bonds first. Second, it may spark talks over a German Bitcoin reserve. Germany might join other nations aggressively seeking Bitcoin as a reserve if this occurs.
Third, it can enable Bitcoin ETFs into the EU, which only allows ETCs/ETNs. Adding spot Bitcoin ETFs to the market would let regular investors to participate in institutional-grade, highly regulated investments
Interesting, the German government had 50,000 Bitcoins last year. Movie.2k.com, a pirated movie website, lost their Bitcoins in January 2024. The operations captured 50,000 Bitcoins, which were sold between June 19th and July 12th last year for $53,000 each. German government revenue from these trades exceeded $2.8 billion.
following Bitcoin's price spike weeks following the transactions, not everyone was thrilled. Bitcoin rose to $88,000 weeks following the transaction, and by the time Donald Trump was elected president, it had reached $100k.
According to market experts, Bitcoin's price rose to over $100k in a few months, underlining Germany's early sales and the relevance of a Bitcoin regulation.
Bitcoin trading over $90k With a pro-Bitcoin Trump in power, many experts foresee brighter times for the blockchain and digital assets.
