German MP Joana Cotar holds BTC, says government should stop selling it

German MP Joana Cotar, who has criticized her government for not considering bitcoin as a “strategic reserve currency,” has revealed that she holds the cryptocurrency as part of her portfolio.

Crypto accounts controlled by the German government received 1,915 BTC ($111.5 million) last night in an apparently ongoing sale. Cotar described the bitcoin sale as “unreasonable” and “counterproductive” in a translated post on X (formerly Twitter).

Cotar’s post included images of a letter she sent to the German prime minister asking the government to “urgently refrain from hastily selling bitcoins in state possession.”

When asked if Cotar held any bitcoin, she told Protos: “A fraction of my portfolio is bitcoin.”

“Holding bitcoin as a strategic reserve asset could be useful for any nation state,” she added. “We are working on these topics with experts like Samson Mow.”

Cotar is the founder of “Bitcoin in the Bundestag,” a nonpartisan initiative that hopes to educate politicians and citizens about Bitcoin. “As a member of the Bundestag, it is important for me to use my political independence to Bitcoin Defender,” she says.

Read more: Mt. Gox wallets hint at refunds – could the timing be worse?

Bitcoin prices have plummeted this week as the U.S. and German governments moved large amounts of the currency to cryptocurrency exchanges. Additionally, defunct exchange Mt. Gox also announced the start of refunds today and began moving 47,229 BTC ($2.71 billion) through different parts.

Bitcoin price fell below $54,000 this morning and currently sits at $55,470. According to Arkham Intelligence, the German government holds 41,224 BTC, worth nearly $2.3 billion at the time of writing.

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