- French politician has signed a petition calling for the Banque de France to buy bitcoin and other cryptocurrencies
- National Assembly member Jean-Michel Mis said that France cannot “miss the boat” in the race to secure holdings of digital currencies
- The thought of a central bank owning bitcoin was unthinkable until recently
Central banks buying bitcoin has long been seen as one of the most tactic endorsements of the asset class. Even the vaguest concept that a central bank could buy bitcoin was unthinkable until now (barring a fake news piece last month), but such a development could be on the horizon after a French politician signed a petition asking the French Central Bank, the Banque de France, to do just that. On Friday, National Assembly member Jean-Michel Mis tweeted that he had given his support to the movement to allow the Banque de France to hold a quantity of bitcoin in order to prevent the country being “in a financially weak position within 5-10 years” as the petition puts it.
“Vital For France” to Get in the Crypto Game
The petition, entitled ‘Amendment to the Monetary and Financial Code authorizing the Banque de France to buy bitcoin and other crypto-assets’, was posted on March 5 and states that the changes in the world of finance in the past year have made it “vital for France to adopt a strategic law anticipating the changes to come in the field of virtual values.” Citing the purchase of bitcoin by the likes of Tesla and MicroStrategy, the petition asks authorities to afford the Banque de France the opportunity to buy digital assets:
Je signe l’initiative de @fxthoorens 🖌
Enfin une pétition en ligne qui prend vos idées, pas vos données ✅
— Jean-Michel MIS 🇫🇷 (@JeanMichelMIS) March 12, 2021
France cannot decently remain as an observer of a race which has already started. Not owning Bitcoin will put it in a financially weak position within 5-10 years. It is urgent to take up the problem. France must adopt a strategy in this area and a law enabling it to be applied.
Intriguing Addition Banque de France Petition
That such a petition has been tabled is not a surprise, but the signature of a nationally recognized politician brings the move a tantalizing step closer. In announcing the fact he has signed the petition to allow the Banque de France to buy digital currencies, Mis said that France can’t “miss the boat” and should follow the example set by corporations and hedge funds.