The Big Whale: What are the objectives of the Institut National Bitcoin?
Alexandre Stachtchenko: It is important to understand that we are not an organisation that seeks to promote Bitcoin for Bitcoin's sake, or to further the interests of any particular community. The National Bitcoin Institute aims to promote France and the French through the strategic use of Bitcoin. In concrete terms, this means that we want to provide analyses and proposals that enable Bitcoin to be exploited as a lever for competitiveness and economic independence for the country.
This involves several axes: on the one hand, we want to encourage reflection and propose innovative ideas on public policies related to Bitcoin. For example, the issue of mining and using it to generate value from surplus electricity in France is a serious avenue to explore. On the other hand, we will also have a monitoring and educational role, particularly in terms of the media and politics.
How does your initiative differ from Adan, which until now has defended the interests of the crypto sector?
We are not in competition with Adan. Adan is a professional organisation that represents players in the crypto sector in France. We have a different angle: we focus solely on Bitcoin and its interest for France. Adan defends the sector as a whole and has to juggle sometimes conflicting interests between Bitcoin and other digital assets. This means that it cannot always take a 100% position on Bitcoin.
For our part, we can afford to go further by highlighting the specific features of Bitcoin and its geopolitical impact. Where Adan focuses on business and industry, we position ourselves as a think tank working on public policy and national strategy. Our aim is not to defend the interests of Bitcoin companies, but to explain why Bitcoin is an opportunity for France. By focusing solely on Bitcoin, we also avoid certain conflicts of interest that can exist when other cryptocurrencies are presented as "greener" or more suited to today's economy.
Bitcoin is regularly the victim of misinformation or stereotypes, how do you intend to combat this?
When a public debate regularly distorts the reality of Bitcoin, we want to be able to make corrections and use the legal tools at our disposal to counter misinformation.
"Ensure that Bitcoin can be debated on a factual basis, and not on the basis of fantasies or preconceived ideas" By what means?
It's not a question of curbing freedom of expression, but of setting the record straight when Bitcoin is unfairly accused of funding terrorism or being a criminal tool. We could take the matter to the media regulators when an erroneous statement is widely disseminated and endangers the use of Bitcoin in France. There are supervisory bodies in France to check the accuracy of information disseminated to the general public, and we intend to use them if necessary.
We are simply playing with the rules of the game in place, and it would be absurd not to do so under the pretext of ideological purism. Our aim is to ensure that Bitcoin can be debated on a factual basis, not on fantasies or erroneous preconceptions.
Who are the original members of the National Bitcoin Institute?
We have a team of volunteers who produce analyses and translations of existing studies. We are fortunate to count among our supporters personalities committed to Bitcoin, such as Éric Larchevêque (co-founder of Ledger and Coinhouse, editor's note), but we're not looking to create an exhaustive list of members. Above all, we want to encourage the production of ideas and influence public debate.
Did the election of Donald Trump and his crypto-friendly policies influence your initiative?
No, our work had already begun before his election. However, his pro-Bitcoin stance confirms that the distinction between Bitcoin and other cryptos is becoming a central issue. We need more voices to explain this difference and present Bitcoin as a strategic asset for France.
We have seen in the United States that the economic and energy argument can have a strong impact on political decision-makers. The example of Texas is particularly telling: the state has incorporated Bitcoin into its energy strategy not for ideological reasons, but because it serves its interests. In France, we need to adopt the same pragmatic approach: show how Bitcoin can be an asset for the country, particularly in terms of energy and financial sovereignty.
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"The most immediate measure would be to use Bitcoin mining to monetise surplus electricity" If you had the ear of the government, what concrete measure would you propose as a priority?
The most immediate measure would be to use Bitcoin mining to monetise surplus electricity. This would reduce EDF's debt, stabilise the grid and build up a Bitcoin reserve without spending any public money. We could also relaunch a mining industry in France. By taking advantage of our under-utilised energy capacity, thanks in particular to nuclear power, we could create an economic dynamic around mining while strengthening our energy sovereignty.
It's a virtuous circle where we value our surplus electricity production while constituting a strategic asset. Looking to the long term, this could also encourage the development of a hardware industry linked to mining, which would avoid dependence on Chinese manufacturers. France could thus become a leading player in this sector, while consolidating its place on the international Bitcoin market.
Is the energy angle the most relevant for "switching on a light" among political leaders?
Energy is a central topic in all political discussions, particularly in France where energy independence is a strategic issue of the first order. When we look at Bitcoin from an energy perspective, we show that it is not just a speculative financial asset, but also a tool for optimising the use of existing energy infrastructures. The example of mining is particularly relevant in this context: it makes it possible to exploit surplus energy, stabilise the grid and improve the profitability of investments in electricity production. The United States, and Texas in particular, have understood this interest and have incorporated it into their energy policy.
In France, we have surplus nuclear production at certain times and a desire to strengthen our energy autonomy. Bitcoin mining could be a solution to improve the load factor of our nuclear power plants and develop a competitive energy industry. The energy approach therefore has the merit of being pragmatic and difficult to challenge, as it is based on economic and technical facts rather than ideological or speculative considerations.
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How to approach companies like EDF on the subject of Bitcoin mining?
Large companies, particularly public companies like EDF, need to be approached through a coherent political and economic strategy. In the case of EDF, the decision to use Bitcoin to monetise surplus electricity may come from management, but it may also be influenced by political will. We need to work on both fronts: making industrial decision-makers aware of the economic benefits of this strategy and convincing political leaders that this is a strategic opportunity for France.
More broadly, the challenge with large companies is to overcome administrative inertia and show that adopting Bitcoin in an energy or financial strategy is not a risk, but an opportunity. This will take time, but we have already started discussions and we hope to see progress in the coming years.
"Demonstrate to politicians that Bitcoin is reaching a growing population, particularly among young people and working people, and that taking a stance on this subject could be electorally beneficial" How do you convince politicians to adopt Bitcoin when the subject remains highly divisive?
The subject of Bitcoin is still perceived as divisive in society and in the media, but the trend is beginning to change. The strategy for convincing politicians is based on two main aspects: understanding and electoral opportunism. Firstly, we need to work on better education on the subject, as many decision-makers do not distinguish between Bitcoin and the rest of the cryptocurrencies. This confusion is detrimental to the debate, because when we talk about Bitcoin, we often come up against objections based on scams, fraudulent schemes or excessive promises associated with the crypto universe in the broad sense. Our role is to dissociate Bitcoin from these practices and position it as a strategic asset in its own right.
Then, on a political level, electoral strategies play a major role. In the United States, Trump positioned himself on Bitcoin because he saw that a growing number of voters, including among Democrats, held Bitcoins and that this issue could influence their vote. In France, a similar approach can be adopted: show politicians that Bitcoin is reaching a growing population, particularly among the young and working , and that taking a stance on this subject could be electorally beneficial. Some parties are beginning to understand that if they ignore Bitcoin, they risk losing votes.
Isn't it counter-intuitive for a politician to support Bitcoin, when it could threaten the euro?
This is a question that is often asked, but which, in my opinion, is not framed in the right way. France's primary objective must be to defend its national interests and its economic sovereignty. The euro is a monetary tool, and like any tool, it must be assessed in terms of its advantages and limitations. If the euro is a resilient and efficient currency, it risks nothing against Bitcoin. On the other hand, if its forced adoption or its evolution towards an over-centralised digital euro causes problems, it's normal for citizens and businesses to look for alternatives.
We're not in a logic of confrontation between Bitcoin and the euro, but in a reflection on the best way to guarantee France's economic sovereignty. Bitcoin can be seen as a strategic complement to the euro, offering an alternative reserve asset in the event of a currency crisis or geopolitical tensions. It is therefore in France's interest to examine this opportunity rather than reject it by default.
In the current geopolitical context, what role can Bitcoin play ?
Bitcoin has a major role to play in recomposing alliances and in thinking about economic sovereignty. Today, we see that many countries, particularly in Asia and Latin America, are seeking to extricate themselves from the financial system dominated by the United States. Economic sanctions, extraterritorial fines and dependence on the dollar are increasingly seen as strategic risks. In this context, Bitcoin offers a neutral alternative, not controlled by any particular state, that allows nations to increase their financial independence.
France must take these developments into account and anticipate the future. Ignoring Bitcoin today means potentially falling behind tomorrow, when other countries will have taken the lead. By taking a serious interest in Bitcoin now, France could strengthen its position in tomorrow's digital economy and avoid suffering the consequences of delayed adoption.
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"We are not affiliated to any political party and we make no ideological distinction in our exchanges" Do you find that politicians are more receptive to the subject of Bitcoin?
Yes, we are observing a gradual evolution in political interest in Bitcoin. Several parties are starting to work on clearer doctrines regarding Bitcoin, and we are seeing politicians from different sides taking an interest. For example, Sarah Knafo has taken a stance on the subject at European level, which has created a ripple effect by forcing other politicians to take a stance.
On the other hand, the left is still finding it difficult to approach Bitcoin from a positive angle, as the subject collides with several sensibilities, particularly on environmental and economic issues. However, we are seeing moderate left-wing figures starting to take an interest, particularly because Bitcoin appeals to a young and active population, which could be a key demographic to win over. The aim is to continue this work of raising awareness and bringing the debate onto rational grounds rather than prejudices or preconceived ideas.
In the United States or France, it was the radical right or the far right that were the first to take up the subject. Could you work with these currents?
As the National Bitcoin Institute, we are not affiliated to any political party and we make no ideological distinction in our exchanges. Our mission is to provide in-depth reflection and concrete proposals on Bitcoin for France. If any political party decides to take up the subject, that's their choice, but it doesn't change the very nature of Bitcoin or its strategic interest. We're ready to talk to any political party that wants to understand and integrate Bitcoin into their thinking, because our aim is for France not to miss out on this opportunity.
Also, we think it's essential that Bitcoin is not captured by just one political side. In the United States, the right was the first to take up the subject, but it is starting to be taken up by other currents. In France, it would be a shame for Bitcoin to be seen solely through the prism of one party. That's why we're trying to encourage a broad, rational debate that's accessible to all political persuasions. If certain parties are more receptive today, it's also up to the others to take their responsibilities and take an interest so as not to leave the monopoly of the subject to just one camp.
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