French lawmakers propose that the country purchase 420,000 BTC over the next 7 to 8 years

BlockBeats News, October 29, according to Bitcoinsensus, French lawmaker Éric Ciotti has proposed a bill suggesting that France acquire approximately 420,000 bitcoins over the next 7 to 8 years, accounting for about 2% of the total supply. Funding sources include utilizing surplus nuclear and hydroelectric power for national-level bitcoin mining, disposing of confiscated crypto assets, and directing savings account funds to purchase BTC daily. If passed, France would become the first European country to include bitcoin in its national reserves.

This bill not only involves the accumulation of bitcoin but also includes broader participation in building crypto infrastructure and linking it to the energy agenda. The government would be able to channel surplus nuclear and hydroelectric power into national bitcoin mining operations to support the network and convert unused electricity into reserve assets. Emphasizing localization, France would retain control over domestic data and energy resources, limit external buyers' influence on digital infrastructure, and connect clean energy with high-tech production. Such an energy framework could reduce losses caused by unallocated capacity while supporting industry employment.

The project also details the sources for supplementing reserves. The state would not only use part of the surplus electricity for mining and record the mined BTC in reserves, but also include assets seized by court rulings in the reserves, and use part of the funds from popular savings products (such as Livret A) for regular small-scale purchases. In addition, it is proposed to allow certain taxes to be paid in bitcoin after obtaining the necessary approvals, in order to establish a settlement operation framework within existing procedures.