France Eyes Bitcoin Reserve as Jan3 Founder Sees Nation-State Adoption Wave

Samson Mow, the founder of Bitcoin infrastructure firm Jan3, has expressed optimism about France potentially leading the way in Bitcoin adoption at the nation-state level in Europe. This sentiment follows a recent meeting with French lawmaker Sarah Knafo at the BTC Prague conference. During their discussion, Mow and Knafo explored the possibility of building a strategic Bitcoin reserve for France and examined regulatory frameworks that could be favorable to Bitcoin.

Mow, who left Blockstream in 2022 to focus on helping governments integrate Bitcoin into their financial strategies, posted on X that he is "looking forward to starting a nation-state Bitcoin adoption wave in France and perhaps all of Europe." Knafo, a member of the European Parliament known for her pro-Bitcoin views, echoed this enthusiasm, describing Mow as an expert on Bitcoin adoption by states who has advised the President of El Salvador and many others.

France is already making strides in both the public and private sectors regarding Bitcoin. On June 3, Paris-based Blockchain Group announced the purchase of 624 BTC for €60.2 million, increasing its total holdings to 1,471 BTC. Additionally, in March, state-owned bank Bpifrance allocated €25 million to crypto-related investments. These moves indicate a growing interest and investment in Bitcoin within the country.

Despite these positive developments, Europe as a whole faces criticism for its slow pace in adopting Bitcoin as a state-held reserve asset. While the EU’s MiCA framework was fully enforced in December 2024, critics argue that it lacks clarity on Bitcoin’s role in state treasuries. This ambiguity has led to concerns about the region's readiness to fully embrace Bitcoin at the nation-state level.

Knafo, who also met with Michael Saylor, executive chairman of MicroStrategy, described him as "visionary and ambitious." She hinted at more developments ahead, stating, "We will soon have many projects for France and Europe." This suggests that there may be further initiatives and collaborations aimed at promoting Bitcoin adoption in the region.