- France aims to acquire 2% of Bitcoin’s supply.
- Potential impacts on financial sovereignty discussed.
- Market volatility expected following the proposal.
France is considering a significant legislative move to acquire 2% of Bitcoin’s total supply over the next 7-8 years, spearheaded by UDR President Eric Ciotti.
This unprecedented initiative aims to enhance financial sovereignty using state resources and renewable mining, immediately influencing market dynamics and fostering extensive debate.
France is considering a bill to acquire 2% of Bitcoin’s supply, approximately 420,000 BTC, over the next seven to eight years. This would establish Europe’s first Bitcoin Strategic Reserve. France plans to leverage nuclear and hydroelectric mining.
Eric Ciotti, President of UDR, is leading the proposal submitted to the National Assembly. Alexandre Laizet provided details on social media regarding the bill’s financial focus. The initiative remains without comment from France’s Ministry of Economy.
The proposal has stirred significant discussions among market analysts. Immediate effects include heightened Bitcoin price volatility and increased on-chain transaction volumes. This is the first such proposal in Europe, showing potential as a regional financial precedent.
Should the bill pass, it could mobilize substantial state resources for BTC acquisition. The proposal could reinforce financial sovereignty by investing in renewable mining infrastructure, utilizing nuclear and hydroelectric sources, as outlined in the bill.
Market response reflects excitement and uncertainty among Bitcoin investors and stakeholders. The anticipated state-driven BTC acquisition could influence broader institutional patterns across Europe, shifting existing cryptocurrency policies and investment landscapes.
Experts predict potential regulatory adjustments if the legislation becomes law. Historical trends suggest an increase in institutional Bitcoin holdings could drive up prices. The proposal could pioneer similar initiatives beyond France, potentially impacting European crypto markets significantly.
“This bill from @partiudr @eciotti proposes the acquisition of 420,000 BTC over 7-8 years to protect France’s financial sovereignty using nuclear and…” – Alexandre Laizet, Director of Bitcoin Strategy, The Blockchain Group
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