The French right-wing party has proposed a plan to establish a national Bitcoin reserve, aiming to acquire approximately 420,000 Bitcoins over the next few years, and to obtain funds through various channels such as mining, judicial confiscation, and national savings, further promoting friendly policies for the cryptocurrency industry and injecting new vitality into the European digital currency ecosystem.
France Bitcoin Strategic Reserve Plan
French Congressman Éric Ciotti proposed the establishment of a public institution to gradually purchase about 420,000 Bitcoins, accounting for approximately 2% of the global supply, viewing Bitcoin as a national digital gold to strengthen fiscal independence against inflation and dollar hegemony, ensuring that France does not fall behind in the digital currency revolution.
Flexible funding acquisition methods
To avoid directly utilizing the national budget, the plan is to raise funds through three main avenues: First, utilizing surplus energy from nuclear and hydroelectric power for low-energy Bitcoin mining, creating an environmentally friendly and sustainable national computing power; second, incorporating Bitcoin assets seized by the judiciary into the national treasury, converting them into usable wealth; finally, allocating part of the funds from the national savings platform to support daily Bitcoin purchases of approximately fifteen million euros, maintaining a stable long-term buying approach.
Prepare to accept Bitcoin tax
The bill also proposes the possibility of using Bitcoin for tax payments, which, although it requires constitutional review, symbolizes that France’s sovereign finances are gradually opening up to digital assets and demonstrates its determination to embrace a new financial framework.
Reject digital euro, embrace stablecoins
Ciotti opposes the European Central Bank issuing a digital euro, arguing that it could jeopardize personal privacy and monetary freedom, and advocates for a ban on its implementation. At the same time, he supports encouraging the market-driven development of euro stablecoins to enhance the competitiveness of the euro as a pricing unit for digital assets, attempting to change the current dominance of the dollar stablecoin.
Friendly policies in the cryptocurrency industry
To attract blockchain and Web3 companies to establish themselves in France, the proposal suggests simplifying the registration process for cryptocurrency enterprises and lowering the barriers to entrepreneurship; at the same time, it provides tax reductions or incentives for trading and mining activities to further stimulate the growth and innovation of the local cryptocurrency economy, accelerating the development of France’s digital economy.
Summary
If the bill is finally passed, France will become the first major economy in the world to incorporate Bitcoin into its national strategic reserves, which could not only change Europe’s policy stance on crypto assets but also symbolizes that the traditional financial system is moving towards a new stage of integration with digital assets.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
