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Citizens' Initiative Calls for an Austrian State Bitcoin Reserve
A new Citizens' initiative is causing a stir in Austria: A group of Bitcoin enthusiasts is calling for establishing a state Bitcoin reserve worth 2.3 billion euros. The initiators see this as a strategic hedge against inflation and an opportunity to achieve financial independence for the country. However, the project is not without controversy.
The idea of a state Bitcoin reserve remains controversial. While supporters see it as a forward-looking strategy for financial independence, critics warn of the high risks associated with the volatility of the cryptocurrency. / Picture: © Wikimedia Commons; Martin E. Walder, CC BY-SA 3.0 Unported DEED (https://creativecommons.org/licenses/by-sa/3.0/deed.en)
Launched on January 30, 2025, the Citizens' initiative entitled “Bitcoin for Austria” is led by Christian Friedl, a mechanical engineer, and Alexander Rotheneder, a business information scientist. Their main concern is the creation of a national Bitcoin reserve, which should be based on the country's existing gold reserve. They argue that Bitcoin - as an inflation-protected and…
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