France Considers Bitcoin Strategic Reserve Bill
- France’s proposed bill targets Bitcoin accumulation and strategic reserves.
- Involves public authorities and key lawmakers Éric Ciotti and Julien Ranc.
- Potential for significant Bitcoin market changes and policy debates.
France is considering a bill to acquire 2% of Bitcoin’s total supply and create a national Bitcoin Strategic Reserve, spearheaded by Éric Ciotti and debated by lawmakers.
The proposal aims to enhance France’s financial independence, impacting global Bitcoin activity and igniting both optimism and caution in the cryptocurrency market.
France is considering a bill to create a Bitcoin Strategic Reserve. The proposal includes accumulating 2% of Bitcoin’s total supply, aimed at treating it as “digital gold”. This initiative is supported by significant legislative figures.
Leading the effort is Éric Ciotti, supported by fellow lawmaker Julien Ranc. The bill proposes public Bitcoin mining leveraging surplus energy and potential tax payments in BTC. No direct allocation to other cryptocurrencies is mentioned.
The bill may affect global Bitcoin ecosystems, with France’s strategic move raising speculation and interest. This initiative is unique in its sovereign scope, drawing parallels with smaller national reserves in countries like Bhutan and El Salvador.
There are implications for France’s financial independence and international Bitcoin market dynamics. Critics include environmental groups concerned about mining impacts. However, proponents see opportunities in utilizing renewable energy and enhancing economic sovereignty. “These measures aim to strengthen France’s financial independence at a time when other nations… are attempting to purchase French mining assets.” — Éric Ciotti, Member of Parliament.
Reactions from the crypto community suggest optimism, but official feedback remains limited. Regulatory bodies like France’s Financial Markets Authority have yet to take a stand. The bill’s progress is closely watched amid debates on energy usage and policy implications.
France’s legislative move could lead to increased institutional BTC holdings, impacting both market prices and regulatory trends. Historical precedents suggest substantial shifts follow such state actions, particularly in advancing crypto-friendly policies and economic models.
