Bitcoin Updates: France Stores Bitcoin as "Digital Gold" to Disrupt the World Economic System
- France proposes a bill to create a sovereign Bitcoin reserve of 420,000 BTC (2% of total supply) over 7-8 years, led by UDR MP Éric Ciotti. - Funding mechanisms include public mining using renewable energy, seized Bitcoin, and tax revenue, with plans to allow Bitcoin tax payments and euro-backed stablecoins for small transactions. - The bill faces political challenges due to Ciotti’s party’s minority status but aims to boost France’s geopolitical independence and digital asset leadership in the EU. - Cri
France Introduces Legislation to Secure 420,000
French legislators are advancing a bold proposal to designate
The bill details several strategies for funding the reserve, such as public Bitcoin mining using France’s excess nuclear and hydroelectric power, keeping Bitcoin obtained through legal seizures, and directing a share of funds from state-backed savings accounts like the widely used "Livret A." The proposal also includes the possibility for citizens to pay select taxes in Bitcoin, pending constitutional review. Ciotti contends that this initiative would strengthen France’s geopolitical autonomy, especially as U.S. entities seek to acquire French crypto mining operations, Coinpedia notes.
Beyond the reserve, the legislation calls for the use of euro-pegged stablecoins for everyday purchases up to €200 and rejects the European Union’s proposed digital euro, which Ciotti argues could threaten privacy and civil liberties. Other provisions include lowering electricity taxes for miners and simplifying institutional Bitcoin investment procedures, as reported by Coinpedia.
There are considerable political challenges. Ciotti’s party controls just 16 out of 577 seats in parliament, casting doubt on the bill’s prospects in a divided assembly. Still, supporters claim the proposal fits with France’s broader push for economic modernization and could help the country lead the EU in digital asset adoption, Coinpedia adds.
This initiative comes as institutional Bitcoin activity rises across Europe. For example, Swiss Bitcoin platform Relai recently obtained a MiCA license in France, reflecting regulatory advances for crypto businesses, according to
If passed, the bill would represent a major transformation in France’s economic policy, merging traditional fiscal approaches with new digital finance trends. While critics warn of Bitcoin’s price volatility and uncertain regulations, advocates believe the long-term strategic benefits outweigh the risks, Coinpedia reports.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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