firstly, there is no Bitcoin adaptation worth mentioning here in Europe. secondly, this applies all the more to the state level. thirdly, they have no idea what scarcity means in terms of monetary policy. Fourthly, the European Central Bank is of course the mortal enemy of the euro, forcing its member states to reject any form of alternative asset.

TomK

econ

Germany's Economic Woes Deepen: Industrial Production Plummets

I wonder how much of the selling is driven by these harsh economic conditions they are facing. As we know bitcoin over the medium and long term is set to take off, so either they don't understand it at all - or they need this liquidity to get through the hard times. 