Sarah Knafo, a French Member of Parliament and Vice President of the ENS group in the European Parliament, expressed her opposition to the introduction of a digital euro and advocated for a strategic national Bitcoin reserve. The statement was made during a session at the European Parliament on December 16.
“No to the digital Euro, yes to a strategic national reserve of Bitcoin,” said Knafo.
According to Knafo, she argued against the adoption of a European Central Bank (ECB)-backed digital euro, citing concerns over economic sovereignty. She proposed the creation of a national Bitcoin reserve, referencing El Salvador’s adoption of Bitcoin in 2021 as an example of cryptocurrency regulation developments worldwide. Knafo emphasized the importance of leveraging Bitcoin’s decentralized nature and called on lawmakers to consider a strategic BTC reserve.
The digital euro is a proposed central bank digital currency (CBDC) under consideration by national central banks in the euro area. It would act as an electronic equivalent to cash, complementing physical banknotes and coins, and be available for electronic payments in shops, online, and between individuals, according to the ECB.
Bitcoin is widely regarded as a decentralized and secure digital asset, often positioned as an alternative to traditional monetary systems. Trust Machines reported that Bitcoin prioritizes security and decentralization through its Proof of Work consensus mechanism and write-only ledger. The network uses Layer 2 protocols, such as Lightning, to support scalability while maintaining its decentralized structure.
EU institutions, including the ECB, are actively discussing the potential of digital currencies to enhance financial stability and ensure global competitiveness. This initiative focuses on addressing technological advancements and reducing dependency on external payment providers. According to Reuters, this is part of a broader global trend with 134 countries representing 98% of the global economy currently investigating central bank digital currencies.
Knafo is also noted for her roles within various committees in the European Parliament. She serves as a member of the ITRE Committee on Industry, Research, and Energy and participates in delegations for relations with Maghreb countries and the Union for the Mediterranean.
