Advancing Bitcoin Adoption in Europe
Samson Mow, the founder of JAN3, is keen on advancing the adoption of Bitcoin among nation-states across Europe. This ambition was sparked by a productive discussion in Prague with Sara Knafo, a pro-Bitcoin member of the French parliament. In a recent post on X, Mow expressed optimism about initiating a wave of Bitcoin acceptance in France and potentially across the continent.
Strategic Collaborations
Mow shared insights on their collaborative vision to establish a Strategic Bitcoin Reserve for France, while advocating for favorable regulations surrounding the cryptocurrency.
Mow announced that Knafo has extended an invitation to his team to continue their discussions in France. Knafo conveyed her enthusiasm on her social media, emphasizing the importance for France to engage with evolving cryptocurrency issues. She praised Mow’s expertise in guiding countries on Bitcoin integration, referencing his experience advising the President of El Salvador among others.
Shifting Focus and Engagement
In March 2022, Mow shifted his focus from Blockstream, led by Adam Back, to prioritize the mission of strengthening nation-state cryptocurrency adoption via JAN3. In her meetings, Knafo also interacted with Michael Saylor, executive chairman at Strategy, whom she described as a visionary leader.
Momentum in France and Europe
With momentum building for Bitcoin projects in France, Knafo noted substantial initiatives are on the horizon for the country and the wider European region. This interest in cryptocurrency aligns with France’s increasing efforts to engage with Bitcoin in commercial and governmental spheres.
For instance, earlier this month, the Paris-based Blockchain Group — claiming to be Europe’s inaugural Bitcoin treasury — acquired 624 Bitcoins for €60.2 million, elevating their total holdings to 1,471 Bitcoin. Additionally, France’s state bank Bpifrance announced an investment of €25 million into cryptocurrencies supporting local blockchain initiatives.
Concerns Over Integration Pace
Despite progress, several industry leaders harbor concerns over the sluggish pace of crypto integration within Europe. Elisenda Fabrega, the general counsel of Brickken, a tokenization platform for real-world assets, remarked that European corporate adoption is still limited, pointing out a deeper rift tied to regulation and market development.
She highlighted the ongoing uncertainty regarding a definitive European stance on Bitcoin as a reserve asset, particularly in light of the EU’s proposed MiCA regulatory framework for cryptocurrencies, which was adopted this May and set to be enforced by December 2024.
