German MP Supports Bitcoin as Legal Tender in Europe

Joana Cotar embarked on her political journey in 2013 when she joined the newly established Alternative for Germany (AfD) party. It was also around that time that she first learned about Bitcoin from her brother. In 2017, Cotar became a member of the German federal parliament (Bundestag) through the AfD. She recently left the party and now serves as an independent MP, allowing her to advocate for her beliefs freely. Cotar became passionate about Bitcoin after studying the Austrian School of Economics and realizing its potential to bring about change on the political stage. She introduced a draft bill in 2023, urging the government to make Bitcoin more accessible in Germany by allowing citizens to pay taxes with BTC and exploring the use of Bitcoin mining to stabilize the energy grid.

Cotar’s main goal is to make Bitcoin legal tender in Germany, which would require convincing other members of the Bundestag of its positive attributes. She acknowledges that many politicians lack knowledge about cryptocurrencies and are only exposed to the negative aspects of Bitcoin. To address this, Cotar launched the “Bitcoin im Bundestag” initiative, aimed at raising awareness among parliamentarians and the public. The initiative will host a launch event in February 2024 to educate German politicians about Bitcoin and its potential benefits.

Cotar believes that if Germany were to adopt Bitcoin as legal tender, it would have a profound impact on society. She argues that Bitcoin gives individuals more control over their money and makes it harder for governments to manipulate or confiscate funds. Cotar sees potential economic benefits, such as attracting entrepreneurs and fostering innovation. She acknowledges that convincing politicians of these benefits will be a challenge, as many are unfamiliar with Bitcoin and harbor concerns about its energy consumption and potential misuse.

In order to make Bitcoin more accepted in Germany, Cotar proposes starting small by allowing tax payments in BTC and creating a favorable environment for Bitcoin mining. She opposes heavy government intervention and instead suggests attracting miners through tax incentives or streamlined bureaucratic processes. Cotar believes that Bitcoin mining can actually help stabilize the energy grid in Germany, which heavily relies on renewable sources and struggles with intermittent energy supply. She hopes to dispel misconceptions about Bitcoin’s environmental impact and demonstrate its potential positive effects.

Cotar emphasizes the importance of educating politicians about Bitcoin and its role in promoting freedom and financial sovereignty. She aims to create an official Bitcoin group within the German parliament and ensure that MPs have a good understanding of the technology. While she acknowledges that some Bitcoiners are skeptical about involving themselves in politics, Cotar believes that having knowledgeable advocates within the political sphere is crucial for driving positive change.

As for her future in politics, Cotar is uncertain. She doesn’t see the possibility of being re-elected in the next German elections and expresses disillusionment with the current political landscape. She refuses to join another party unless she truly believes in their values and instead plans to continue advocating for Bitcoin within the political sphere, even if she ultimately leaves politics altogether. Cotar is committed to lobbying for Bitcoin and believes that educating politicians is essential for ensuring its acceptance and adoption in Germany.