Joana Cotar embarked on her political career in 2013 when she joined the newly formed Alternative for Germany (AfD) party. It was during that same year that her brother introduced her to Bitcoin, the pioneering cryptocurrency.
In 2017, Cotar secured a seat in the Bundestag, the German federal parliament, as part of the AfD’s federal executive. However, after a decade with the party, she decided to leave in November 2022 for various reasons. As an independent member of parliament (MP), Cotar now had the freedom to advocate for her beliefs without the constraints of a political party.
As Cotar delved into the principles of the Austrian School of Economics, she became deeply interested in Bitcoin and realized its potential to be championed on the political stage. In late 2023, she introduced a draft bill to the Bundestag, urging the federal government to increase accessibility to Bitcoin in Germany. The draft bill proposed allowing German citizens to pay taxes with BTC, exploring the use of Bitcoin mining to stabilize the energy grid and monetize renewable energy, and ultimately making Bitcoin legal tender in the country.
However, Cotar faced the challenge of convincing her fellow parliamentarians about the positive aspects of Bitcoin. She observed that many members of parliament lacked basic knowledge about cryptocurrencies and often only heard about the negative aspects, such as its association with illicit activities.
To address this, Cotar launched an awareness campaign called “Bitcoin im Bundestag,” aiming to educate German parliamentarians about Bitcoin. The campaign will hold a launch event on February 22, 2024, primarily targeting MPs but also open to the general public.
While El Salvador became the first country to adopt Bitcoin as legal tender in September 2021, Cotar believes that widespread crypto adoption in Europe, particularly in Germany, could have profound societal implications. She sees it as a means to empower individuals, limit government control over money, and attract innovative entrepreneurs to the country.
In an interview, Cotar explained that she entered politics to fight for freedom, drawing from her personal experiences in Romania. She included Bitcoin in her political narrative because she recognized its potential to solve numerous problems and viewed it as a currency of freedom.
Cotar acknowledged that some politicians might use Bitcoin as a mere talking point without genuine concern for its benefits. However, she emphasized her genuine dedication to promoting Bitcoin and its positive impact.
Regarding making Bitcoin legal tender in Germany, Cotar expressed her belief that it is indeed possible. She suggested starting with small-scale implementation in specific cities before expanding it nationwide, similar to Lugano in Switzerland. She also proposed forming a Bitcoin reserve in Germany, akin to the country’s gold reserves, to demonstrate confidence in the cryptocurrency.
Cotar acknowledged that introducing Bitcoin as legal tender would require a gradual process and suggested beginning by allowing tax payments in Bitcoin. She also advocated for facilitating Bitcoin mining in Germany rather than imposing unnecessary regulations, as she believed it could stabilize the energy grid and address the country’s renewable energy challenges.
When asked about the potential opposition to making Bitcoin legal tender in Germany, Cotar identified conservatives as the likely opponents due to their fear of losing power. She also noted that the Green Party might reject the idea due to concerns about its environmental impact. However, she believed that educating these parties about the benefits of Bitcoin could change their perspectives.
Cotar discussed the societal changes that could occur if Bitcoin became legal tender in Germany. She emphasized that it would limit government power over money and attract innovative individuals to the country. Additionally, it would force politicians to think more carefully about their spending decisions, as they would no longer have the ability to simply print more money.
Regarding the national debt, Cotar admitted that it was a complex issue, and she was uncertain about the specific implications of adopting Bitcoin as legal tender. However, she emphasized the need for politicians to be more accountable for their spending decisions and believed that Bitcoin as legal tender would encourage more responsible economic policies.
When asked about the readiness of the Bitcoin protocol for such a significant change, Cotar acknowledged that Germany’s case was more substantial than that of El Salvador and expressed hope that the Lightning Network could resolve any scalability issues.
Cotar suggested implementing Bitcoin as legal tender alongside the euro, allowing for a transition period to assess its viability and effectiveness before potentially phasing out the euro entirely.
The idea for Cotar’s educational campaign, “Bitcoin im Bundestag,” emerged from discussions with her colleagues, who were already knowledgeable about cryptocurrencies. The campaign’s objective is to educate fellow MPs about Bitcoin and related topics, such as its role in energy and its potential to help the unbanked. Cotar hopes that, through this initiative, MPs will gain sufficient knowledge about Bitcoin and that an official Bitcoin group will form within the German parliament.
Cotar acknowledged that recruiting Bitcoiners for a political campaign was challenging, as many of them preferred to avoid regulation. However, she believed that these individuals, with their understanding of the importance of freedom, were exactly the kind of people needed in politics. She emphasized the importance of focusing on Bitcoin rather than specific political affiliations and called for the education and engagement of politicians.
Cotar expressed her uncertainty about her political future beyond 2025. While she has received invitations to join other parties, she emphasized that she would only align herself with a party that she genuinely believed in. Regardless of her political career, she expressed her commitment to lobbying for Bitcoin and promoting its benefits in politics.
This interview has been edited for clarity and brevity.