French MP Eric Ciotti has unveiled a new bill aimed at designating Bitcoin as a national strategic asset, marking a potential shift in French financial policy.
The proposal, presented to the National Assembly this October, calls for the establishment of a strategic reserve of Bitcoin managed by a public entity, similar to gold and foreign currency reserves, with an ambitious plan to own up to 2% of the global supply of the digital currency, approximately 420,000 Bitcoin units over eight years.
The legislation, put forth by Ciotti's Union of the Right and the Centre party, not only seeks to include Bitcoin as a financial asset but also links it directly to French energy policies, suggesting the use of surplus nuclear and hydroelectric energy to power public Bitcoin mining operations without affecting local electricity consumption.
The bill stipulates that the state should retain any Bitcoin seized during legal proceedings and proposes directing part of savings from popular accounts like "Livret A" towards small daily purchases of the digital currency, as reported by Invezz and reviewed by العربية Business.
Furthermore, it opens the door for citizens to pay some taxes using Bitcoin, contingent on constitutional approval.
Strengthening financial independence is a key goal, as Ciotti emphasizes the need to counter foreign influence, particularly from the United States, which seeks to acquire French mining assets, including AI companies like Exaion.
The bill intertwines digital security with national sovereignty, strongly opposing foreign control over French digital infrastructure and asserting that local control of mining operations will ensure data and energy remain within French borders.
In addition to Bitcoin, the legislation proposes the introduction of euro-backed stablecoins for small payments under 200 euros, exempting them from taxes.
However, Ciotti rejects the idea of a "digital euro" issued by the European Central Bank, warning it could threaten citizens' privacy and grant governments excessive control over personal spending. Instead, he advocates for a decentralized approach that allows the private sector to innovate within a regulatory framework established by the state.
Despite its ambitions, the bill faces significant challenges in Parliament, where Ciotti's party holds only 16 out of 577 seats, making its passage difficult without broad support from other parties.
Analysts view the mere introduction of the bill as a turning point in French financial discourse, reflecting a growing interest in using digital assets as strategic tools rather than mere speculative instruments.
Potential Impact on Europe
If France pursues this direction, it may inspire other European countries to rethink the relationship between energy, technology, and finance, especially amid ongoing debates about regulating the digital asset market in the EU (MiCA).
The proposal opens a new discussion on whether European nations should hold digital assets in their national reserves or stick to traditional currencies.
Regardless of the bill's fate, Ciotti's initiative outlines a European shift from caution and regulation to exploration and strategic integration of digital currencies.