Key Takeaways
What makes the French Bitcoin bill different from other EU proposals?
The bill positions Bitcoin as a state reserve and rejects the EU’s digital euro in favor of alternatives such as stablecoins.
How important would France’s proposed Bitcoin reserve be?
If adopted, France’s reserve of 420,000 BTC would exceed US holdings, making it the largest sovereign Bitcoin holder in the world.
France’s conservative UDR party introduced a landmark bill on October 28 that would establish a national Bitcoin reserve. If this bill is passed, the country will position itself as an outlier in the field of crypto policy within the European Union.
The proposal, submitted in the French parliament, calls for the creation of a public institution to manage a reserve of 420,000 BTC, according to reports.
This represents about 2% of the total supply, effectively making Bitcoin a state-backed strategic asset.
If the proposal is passed, France would leapfrog the United States’ 326,588 BTC holdings and become the world’s largest sovereign Bitcoin holder.
Source: Bitcoin Treasuries
At current market prices, the reserve would be worth more than $48 billion, giving France unique monetary cover amid global efforts to diversify reserves away from the U.S. dollar.
Sovereign crypto over centralized money
The authors of the bill describe Bitcoin as a “national digital gold” that can protect France’s financial sovereignty. It proposes to finance the reserve through public mining, powered by excess nuclear and hydroelectric energy.
In addition, the proposal proposes to retain BTC seized in criminal proceedings and a small daily allocation from national savings plans, such as the Livret A.
In a direct challenge to EU monetary policy, the bill also urges opposition to the digital euro [CBDC]. It describes it as a “centralizing instrument” that threatens financial freedom.
Instead, it calls for promoting euro-denominated stablecoins, allowing citizens to make tax-free payments of up to €200 per day and even pay taxes using these assets.
The initiative positions France as one of the few EU members seeking a market-driven alternative to the digital euro, and aligns more closely with the United States’ emerging pro-Bitcoin stance than Brussels’ cautious regulatory approach.
Political ambition, limited influence
Despite its bold scope, the bill faces an uphill battle. The UDR party, led by Eric Ciotti, has only 16 of the 577 seats in the National Assembly, giving it little legislative influence.
The proposal is separate from the current Finance Act and lacks support from all parties.
Yet its introduction marks a turning point in the French crypto debate.
It reflects a growing political willingness to view Bitcoin not just as a speculative asset, but also as a tool for economic independence – a narrative increasingly repeated in the US and parts of Asia.
Even if the bill fails, it could reshape future discussions about digital sovereignty within the EU.
By proposing a Bitcoin-backed reserve, France is signaling its willingness to question the bloc’s centralized approach and explore how decentralized assets could redefine power in the next financial era.