French Lawmaker Proposes Establishing a National Bitcoin Reserve, Targeting 2% of Total Bitcoin Supply

On Tuesday, French legislator Eric Ciotti submitted a pioneering cryptocurrency bill to Parliament. The proposal includes the creation of a dedicated public administrative agency (EPA) to hold and manage Bitcoin, as well as the establishment of a national Bitcoin strategic reserve.

The plan aims to accumulate 420,000 Bitcoins over the next 7-8 years, representing 2% of the global Bitcoin supply, with the goal of positioning Bitcoin as France’s "digital gold" reserve.

To achieve this, the bill outlines a diversified asset accumulation strategy. In addition to leveraging France’s surplus nuclear and hydroelectric power for public Bitcoin mining, it suggests incorporating Bitcoin assets seized through judicial confiscation into the national reserve. It also plans to allocate a quarter of citizens’ savings for daily Bitcoin accumulation.

Meanwhile, the bill includes provisions to support the development of the euro stablecoin, proposing tax exemptions for stablecoin transactions under 200 euros and authorizing the use of stablecoins and Bitcoin for tax payments. These measures aim to foster the growth of an independent European stablecoin ecosystem.

Although the proposal has sparked widespread discussion due to its innovative concept, its legislative progress faces practical political constraints. The party that introduced the bill holds only 16 of the 577 seats in the French Parliament and has yet to gain support from other major political forces, making its passage challenging.

Given this political reality, many analysts suggest that the likelihood of the bill being approved in its current form is low. However, it is important to note that the idea of a "national digital gold" has already provided valuable inspiration for digital currency strategies across European countries, with its influence extending beyond the legislative process itself.

#法国比特币法案 # Bitcoin Strategic Reserve