Germany Considers Bitcoin for Future Reserves

In a surprising turn of events, Bitcoin advocate Samson Mow has suggested that Germany is exploring the possibility of adding Bitcoin to its strategic reserves. This development comes just months after the country sold off a significant portion of its Bitcoin holdings, valued at $2.87 billion. If Germany proceeds with this plan, it would join the ranks of nations like El Salvador and Bhutan that have already implemented Bitcoin strategies.

Mow’s statement on social media platform X indicated that Germany might be looking to acquire 281,267 BTC, worth approximately $19 billion, for its future strategic reserves. This revelation follows Mow’s recent appearance at the German Bundestag, where he discussed Bitcoin strategies for nation-states.

The potential move by Germany is particularly noteworthy given its recent history with Bitcoin. Between June and July of this year, the country liquidated 50,000 BTC that had been seized from the movie piracy website movie2k. This sale had a significant impact on Bitcoin’s price at the time, causing it to dip below $55,000.

Currently, El Salvador holds 5,907 BTC ($402 million) according to Arkham Intelligence data, while Bhutan possesses 13,166 BTC ($844 million). The United States remains the government with the largest Bitcoin holdings, totaling 203,239 BTC, mostly from seizures related to the Silk Road dark web marketplace.

In the United States, presidential candidate Donald Trump has expressed intentions to create a Bitcoin strategic reserve if elected. Additionally, U.S. Congressman Ro Khanna has proposed converting seized bitcoins into part of the strategic reserve instead of selling them.

Bitcoin Adoption in Germany

While Germany considers incorporating Bitcoin into its reserves, the country has already been making strides in Bitcoin adoption. Last month, the German Bundestag established the Bitcoin Federal Association (BTCBV). According to Bundestag member and Bitcoin activist Joana Cotar, this association will focus on Bitcoin education and promote its adoption throughout the country.

German institutions are also embracing Bitcoin. Samara AG recently announced plans to purchase €30 million worth of BTC, emulating MicroStrategy’s Bitcoin strategy. Furthermore, German bank Commerzbank has partnered with Deutsche Börse’s Crypto Finance to offer Bitcoin and Ethereum trading services to its customers.

As Germany explores the possibility of adding Bitcoin to its strategic reserves, it could signal a shift in how major economies view and utilize cryptocurrencies. This development will likely be closely watched by investors, policymakers, and crypto enthusiasts worldwide.