German policymakers are increasing efforts to integrate blockchain and Bitcoin into the financial system. During a recent blockchain roundtable hosted by Fraktion der Freien Demokraten and Frank Schäffler, members of parliament and resource specialists discussed several key proposals that could assist the government achieve its goal.
The round table discussion organized in the German Parliament attracted key German decision-makers, including Christian Lindner, former Minister of Finance, and Patrick Hansen, director of Circle.
German Bitcoin Initiative: Lindner Recommends Next Steps
Former Finance Minister Christian Lindner was one of the guests at the Blockchain Roundtable and discussed in detail what the German government can do to accelerate its dive into blockchain and Bitcoin.
Blockchain roundtable in the German parliament 🇩🇪
Former Minister of Finance @c_lindner outlined three potential next steps for Germany/EU to compete in this space:
1️⃣ Issue German government bonds on the blockchain
2️⃣ Start a discussion about strategy #Bitcoin book
3️⃣… pic.twitter.com/awRpYrf2bI— Patrick Hansen (@paddi_hansen) January 10, 2025
According to Lindner, the government can compete in this industry in three ways. First, the German government can issue bonds on the blockchain. Secondly, it can encourage discussion and debate about the creation of a German Bitcoin reserve. If this happens, Germany could follow in the footsteps of other countries actively pursuing Bitcoin as a reserve.
Third, it could allow Bitcoin ETFs into the European Union, which is currently confined to ETCs/ETNs. The approval of Bitcoin spot ETF trading will provide retail investors with a convenient way to invest in institutional-grade and highly regulated investment options, thereby increasing the adoption of blockchain technology in the region.
Germany struggling with Bitcoin loss in 2024?
Interestingly, last year the German government controlled 50,000 Bitcoins. In January 2024, Bitcoins were seized from the website Movie.2k.com, which hosts pirated movies. The operation confiscated approximately 50,000 Bitcoins, which were put up for sale between June 19 and July 12 last year at a price of $53,000 each. Bitcoin. These deals brought the German government more than $2.8 billion.
However, not everyone was cheerful with the outcome after witnessing a surge in Bitcoin’s price that began weeks after the deal was finalized. A few weeks after the transaction, the price of Bitcoin rose to $88,000, and by the time the United States elected Donald Trump as its second administration, Bitcoin had already crossed the $100,000 mark.
According to market observers, the impressive price of Bitcoin has reached over 100,000. dollars in just a few months, highlighting the impact of early sales in Germany and highlighting the importance of having a Bitcoin policy.
Germany has renewed interest in Bitcoin
When trading Bitcoins above 90 thousand dollars ia Bitcoin Trump supporter taking office in the US, many commentators and analysts expect better days for blockchain and digital assets. German policymakers are making up for losses by returning to the discussion on the continuation of the Bitcoin program. For example, Lindner spoke at the Bundestag last December, reflecting on the government’s “missed opportunity” in Bitcoin. He also shared that the United States is ready to implement its Bitcoin policy under Donald Trump.
Featured image from Pexels, chart from TradingView
