France Introduces Bill to Acquire 420,000 BTC Over 7-8 Years

France has proposed a bill to accumulate 2% of Bitcoin's fixed supply, aiming to become the first European country with a BTC Strategic Reserve. The plan includes acquiring 420,000 BTC over 7-8 years using nuclear and hydroelectric mining.

Key Points:

The bill was announced on October 28 by Gregory Raymond and will be presented by Eric Ciotti, President of UDR, to the National Assembly.
The initiative is part of France's strategy to protect its financial sovereignty.
France's Capital B already holds over 2,249 BTC, indicating readiness for future BTC reserves.
In July, France developed a 5-year Bitcoin mining plan utilizing surplus electricity.
The government aims to generate up to $150 million from the crypto industry by reducing wastage.

Global Context:

Germany's Aifinyo AG has adopted a pure-play Bitcoin treasury strategy.
South Korea's Bitplanet plans to establish a $40 million institutional Bitcoin treasury.
K Wave Media in South Korea intends to create a $1 billion Bitcoin treasury.