French nationals are looking to take steps toward establishing bitcoin as a significant economic pillar of the nation's economy.
As reported by OneSafe, France is proposing a bill that would make a substantial stake in the crypto scheme, aiming to obtain a whopping 2% of bitcoin's total supply.
This equates to about 420,000 BTC amassed over the next seven to eight years, a shift in national attitudes about digital assets like crypto as a means of bolstering the economy rather than risking it.
The latter attitude is primarily fueled by the unpredictability of the cryptocurrency market and investors' wariness about putting large stakes in a market that, earlier this year, had not been showing much forward momentum.
One of France's goals in placing such a significant stake in bitcoin is to expand the scope of sustainable methods of crypto mining to change attitudes toward the industry's environmental impact.
Historically, crypto mining has not had the best track record for sustainability, as the large amounts of electricity required to power data centers and mining facilities have driven up power costs for several communities, especially if that electricity comes from fossil fuels.
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However, France's investment could be part of a growing trend of investments aimed at changing the crypto game and adopting more sustainable power sources.
The French have already agreed to leverage the country's nuclear and hydroelectric resources toward powering the cryptomining facilities that would support its stake in bitcoin.
Specifically tailoring renewable energy sources to digital assets such as bitcoin supports the broader use of these assets in the energy economy. It helps the growth of the crypto industry without compromising environmental stability or burdening the average consumer.
France is far from the only place making moves like this.
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It is the future of currency 😎 Bitcoin holder Mara Holdings purchased a wind farm in Texas to help power its cryptocurrency operations, aiming to lower its bitcoin production costs amid "near-zero" energy prices over the next few years, per Recharge.
Additionally, two companies, Clean Energy Technologies and METIS Power, are launching a so-called mobile power and crypto mining system that will allow crypto miners to take their all-in-one crypto mining trailer to any location with an available energy source and directly "plug in" to it to generate their own electricity in more affordable or energy-abundant areas, without having to rely on a grid.
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