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French Political Party Proposes Bold Strategy to Create a National Bitcoin Reserve

A prominent initiative has emerged in France, spearheaded by the UDR party, to establish a national Bitcoin (BTC) reserve.

Led by Éric Ciotti, this ambitious bill aims to acquire and manage 420,000 BTC over the next seven to eight years.

The proposal includes the creation of a Public Administrative Establishment (EPA) dedicated to this strategic reserve, dubbed a "national digital gold."

Utilizing surplus hydroelectric and nuclear power for Bitcoin mining is one of the innovative methods suggested by the UDR to fund this initiative.

Additionally, the bill outlines allocations from the Livret A and LDDS savings schemes for daily BTC purchases on the secondary market.

While the proposal recognizes the potential of euro-denominated stablecoins, it also opposes a digital euro, favoring decentralized alternatives.

Although the likelihood of the bill’s passage is slim, it reflects the UDR’s ambition to positioning as a staunch supporter of the French crypto landscape.

The measure is viewed as a way to strengthen France's financial sovereignty and diversify its foreign exchange reserves.

Despite its limited parliamentary representation, the initiative marks a significant step in the ongoing dialogue around cryptocurrency legislation in France.

As the global crypto landscape evolves, such proposals underscore the intersection of politics and emerging financial technologies.