German MP Joana Cotar Wants the State to HODL, Not Sell, Its Bitcoin

Joana Cotar, a member of the Bundestag (German parliament), has taken exception to her government's sudden offloading of large amounts of Bitcoin.

A member of the German parliament has criticized the government's decision to sell its Bitcoin holdings, arguing instead that the state should HODL the cryptocurrency.

Joana Cotar, a member of the Bundestag, took to social media on Friday to express her dissatisfaction with the government's reported plan to sell its remaining BTC stash, which is valued at roughly $2.8 billion at current prices.

Cotar's comments come after news broke earlier this week that the German government had moved a large amount of Bitcoin from its movie2k recovery wallets to popular crypto exchanges.

The government reportedly seized a total of 50,000 BTC when it raided the illegal torrent streaming site in 2013. Bitcoin was trading at less than $500 at the time, putting the total value of the seized crypto at around $25 million.

However, with Bitcoin's price having surged more than 100 times since then, the German government's crypto stash is now worth over $2.8 billion.

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