French magistrate and European Parliament member Sarah Knafo wants the European Union to establish its strategic Bitcoin (BTC) reserve and reject plans to issue a digital euro.
Knafo posted a video of her speech before the European Parliament in a recent X post, writing “NO to the digital euro” and “YES to a strategic national reserve of Bitcoin. She explained that she wants to prevent “totalitarian temptations” by the European Central Bank, calling for an end to regulatory overreach in crypto and the adoption of Bitcoin’s decentralization.
The lawmaker cited the adoption of Bitcoin as a legal tender by El Salvador back in 2021 and the pro-crypto agenda of United States president-elect Donald Trump. She even mentioned United States Federal Reserve Chairman Jerome Powell describing Bitcoin as “digital gold” earlier this month.
A call for a major change
Knafo criticized local regulators for instead focusing on what she perceives as excessive regulation, taxation, and stifling innovation. She said:
“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands.”
She explained that she wants to prevent a “dystopian world where a European bureaucrat will be able tomorrow to ban certain transactions and even eliminate us from the banking system with a click for a simple comment made on social networks or for an opinion that displeases. It is time to bet on freedom.”
Market reaction
Market data shows that Bitcoin is trading at just under $107,000 at the time of writing. Over the last 24 hours, the coin kept its value mostly stable and over the last seven days it gained nearly 11.5%.
The Crypto Fear & Greed Index, a multifactorial measure of crypto market sentiment, currently indicates a level described as “extreme greed.” The index stands at 87, indicating that the crypto market is now overrun by greed. With such scores, the instrument warns of a possible imminent correction:
“When Investors are getting too greedy, that means the market is due for a correction.”
