German MP Joana Cotar Advocates for Making Bitcoin Legal Tender in Germany
Summary:
Joana Cotar, a member of Germany's federal parliament, the Bundestag, is advocating for Bitcoin to be recognized as legal tender in Germany. She started her political career in the Alternative for Germany (AfD) party, but later became an independent MP. Cotar's proposal includes provisions for allowing German citizens to pay taxes with Bitcoin and investigating how Bitcoin mining could strengthen the energy grid and generate revenue from renewable energy. To address the knowledge gap among her colleagues about Bitcoin, she initiated the “Bitcoin im Bundestag” campaign, which aims to educate parliamentarians and the public. Despite political and environmental concerns, Cotar believes that Bitcoin, as a form of free currency, could balance governmental power over citizens' money and attract entrepreneurial growth to Germany.
Joana Cotar embarked on her political career in 2013, joining the Alternative for Germany (AfD) party, a newly-established political group at the time. She was introduced to Bitcoin that same year by her brother. By the German federal elections of 2017, Cotar was serving as a member of the Bundestag - Germany's federal parliament - representing the AfD's federal executive. However, on November 21, 2022, Cotar left the AfD due to various reasons.
Independence in parliament allowed Cotar to champion causes she strongly believed in without constraints from her political affiliation. She deepened her understanding of Bitcoin (BTC) while delving into the principles of the Austrian School of Economics, recognizing the opportunity to support Bitcoin in the political arena.
Towards the end of 2023, Cotar proposed a bill asking the Bundestag to encourage the federal government to make Bitcoin more accessible in Germany. Her proposal also included provisions for allowing German citizens to pay taxes with BTC and promoted investigation into how Bitcoin mining could bolster the energy grid and profitably utilize renewable energy.
Her most daring proposal was for Bitcoin to be recognized as legal tender in Germany. This would require her colleagues in the Bundestag to understand and appreciate the benefits of Bitcoin. In her experience, most parliamentarians lacked a fundamental understanding of cryptocurrencies, often only focusing on negatives associated with Bitcoin. To address this knowledge gap, Cotar spearheaded the “Bitcoin im Bundestag” initiative, aimed at creating awareness among German parliamentarians as well as the general public, set to kick off on February 22, 2024.
El Salvador became the first country to adopt Bitcoin in September 2021, with mixed outcomes. However, Cotar believes the stakes are high concerning widespread crypto adoption in Europe, as she believes it could usher in societal changes.
Cotar's passion for politics stemmed from her resolve to defend freedom. Hailing from Romania, she had experienced the lack of political and personal liberty and wished to safeguard it in Germany.
When asked about the inclusion of Bitcoin in her political agenda, she credited her awe-inspiring moment as when she realized the problem-solving potential of Bitcoin. Despite her unsuccessful attempts to promote Bitcoin within the AfD citing fear and computer mistrust, she remained undeterred. Her exit from the party in 2022 allowed her freedom and agency to push for Bitcoin.
Cotar acknowledged skeptical attitudes towards making Bitcoin legal tender in Germany - primarily due to power shifts it would cause and environmental concerns, especially from the conservatives and the Green Party. She is hopeful that proper explanation and awareness of Bitcoin's potential, especially in stabilizing the energy network and supporting human rights, might shift their stances.
Cotar imagined a society where Bitcoin, as a form of free currency, would balance the governmental power over citizens' money and attract entrepreneurial growth to Germany. She also highlighted the financial responsibility this change would necessitate, particularly in reducing wasteful spending and promoting thoughtful investment decisions due to the impossibility of unlimited money printing.
In the context of Bitcoin as legal tender, Cotar proposed starting small - perhaps with a transition in cities such as Berlin or Munich, and then scaling up. Acknowledging the robustness of the Bitcoin protocol to handle national adoption, she focused on education and awareness initiatives like “Bitcoin im Bundestag.”
Reflecting on her political journey, Cotar mentioned her disillusionment with the AfD towards the end of her ten-year tenure. Post-2025, Cotar did not rule out joining a new party with liberal, conservative values, including Bitcoin in their economic outlook. Even if she exited the political stage, she assured her commitment to lobbying for Bitcoin.
Published At
2/19/2024 5:01:00 PM
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