The Bitcoiner who Ran for French National Assembly

Strapline: Europe lags well behind the United States in terms of Bitcoin in politics, but France now boasts its first-ever political candidate to put Bitcoin on the ballot sheet.

For the first time in French history, a Bitcoiner appeared on the ballot papers of France’s recent elections.

Aurore Galves Orjol, co-founder of the Bitcoin brokerage Bitcoin Lyon, seized the opportunity to participate in the legislative elections in France on a pro-Bitcoin, and crucially, a Bitcoin-only platform in June.

In an interview with Joe Nakamoto, Orjol explained why she launched her political career independently of any political party affiliation, and why it matters so much to do so now.

In a surprising decision, the President of France, Emmanuel Macron, dissolved the National Assembly on June 9. The staunchly anti-Bitcoin and anti-crypto leader of the EU’s second-largest economy called for an election in July 2024.

The speed and spontaneity of the decision led to what Aurore describes as political chaos, as well as a potential juncture for Bitcoin:

“In this chaos, there’s an opportunity; there’s a card to play, and we’re going to try to infiltrate the debate by proposing a Bitcoin candidacy.”

In the United States, Donald Trump has crooned crypto fans, winning over many Big Name Bitcoiners who have promised him their vote. Furthermore, several Senators and lawmakers are beginning to grasp Bitcoin and even advocate for the technology.

Across the pond, however, there are very few politicians in the UK and Europe who have shown genuine, sustained interest in the subject. Nigel Farage, the leader of the new challenger party in the United Kingdom, Reform, has spoken at Bitcoin Conferences where he expressed his aversion to cryptocurrencies. In an interview with Farage in 2022, he boasted that “Bitcoin would become a trusted means of exchange in Europe.”

Nonetheless, Farage is a seasoned politician. The Brit has a history of pandering to specific focus groups—be it farmers, Brexiteers, or the de-banked. He has ignored Bitcoin since championing the Reform Party.

Nonetheless, this is the first time that a seasoned Bitcoiner—as opposed to a seasoned politician—puts forward Bitcoin to the electorate. In the Isère Region of France, near Lyon, Aurore called upon the electorate to “Stop voting white [i.e., stop spoiling your vote], and start voting orange, ” where orange is the color of Bitcoin.

Although her hopes of winning the seat were small, the intention was to use the platform to shine a light on Bitcoin in France and to elevate Bitcoin to national discourse. And it’s working. Aurore explained:

“I’m already being positively received, encouraged, and discussed. […] And it’s perhaps the first building block of something bigger. My intention is also to encourage other people to do so, so that we can infiltrate the government in a way, and propose these ideas at many levels of democracy, to enrich and refresh the democratic debate with the solutions that Bitcoin could bring.”

Indeed, despite no political party affiliation, her actions gained national media attention—and it’s not all negative. Les Echos, one of France’s most prestigious national newspapers, featured Orjol, where she was able to express her views on Bitcoin mining and its role in incentivizing green energy sources.

As Aurore’s first foray into French politics, the move also serves as a wake-up call to other European Bitcoiners in terms of political inclusion and lobbying:

“Democracies are open […] This is a call to other Bitcoiners to come forward and get involved in politics to fill the void for pro-Bitcoin voices—because right now it’s damaging to us that laws are made against us. Since we don’t participate in the laws, the laws are no longer adapted to us. They are made to our detriment.”

It’s important to stress just how far behind Europe is in terms of Bitcoin acceptance in politics, and how Aurore’s move may move the needle. For example, in the United Kingdom, British Bitcoiners are desperate to understand where the new Prime Minister, Sir Keir Starmer, stands on Bitcoin. He has yet to comment on this pressing issue.

President Biden, however, has made clear his approach of cautious regulation to the broader cryptocurrency space. Trump, as mentioned, is making overtures to both the Bitcoin and Cryptocurrency crowds.

Aurore highlights that we should be careful to reserve judgment of politicians warming to Bitcoin:

“It’s true that we’re currently seeing politicians all over the world starting to broach the subject in a bid to win over certain electoral niches with a view to winning over new voters.”

She explained that ultimately, Bitcoin should be the backbone of a political proposal to change monetary policy, which is inflationary and expansionist, and to have a real impact on decision-making. Instead of opportunists cowing to Bitcoin appeal, more Bitcoiners should aim to make laws.

Nonetheless, Aurore faces an uphill battle. Despite standing on a Bitcoin-only platform, BFM, another large media outlet, called Aurore “La Reine Des Cryptos, ” or The Crypto Queen.

Orjol lectures students at the Burgundy School of Business about Blockchain technologies, in which she says, “It ends up being lectures about Bitcoin because that’s the only blockchain that works.” The framing of the Crypto Queen is a nod to the famous Bulgarian Crypto Queen fraudster, who scammed investors out of millions in the One Coin Scandal.

Orjol co-founded Bitcoin Lyon in 2019. It is the only physical space in France where customers can buy or sell Bitcoin for cash, albeit only up to a maximum of 500 EUR ($540) per person per month due to strict EU regulations.

Ownership of crypto sits at around 12% of the French populace, according to a report conducted by Adan in partnership with KPMG, but Orjol comments that while this is small, it’s growing rapidly, especially among the younger demographics.

Orjol’s campaign runs on two foundational promises: protect the environment by cultivating a Bitcoin mining scene in France that would promote the buildout of renewable technologies.

The Bitcoin mining hash rate emanating from France is a fraction of Texas. The European Union spits out just 6% according to Coin Wars, whereas Texas churns out almost one-third of the global hash rate.

Furthermore, the French government and companies funnel billions of euros into renewable energy each year. There is tremendous potential for Bitcoin mining in France with stranded or wasted renewable energy but sadly, little impetus to do so.

Secondly, Orjol seeks to protect an individual’s right to self-custody. A key tenet of Bitcoin philosophy, the importance of holding one’s keys, is paramount to Bitcoin’s growing success. This belief confronts, head-on, the MICA (Markets in Crypto Assets) regulation in Europe, proposed by the European Union. In a draconian move, the MICA laws seek to outlaw what they refer to as “unhosted wallets, ” or self-custody. 

Aurore explains that it’s a case of Hanlon’s Razor:

“They don’t understand this technology because if they did, they would never have endangered individuals in this way.

She continued, “A politician would never create a law to force individuals, citizens, to publicly display the amounts in their bank accounts. No politician would think it reasonable to do that.”

Perhaps not all politicians think that way, but her point underscores that there is a sincere lack of Bitcoin education among politicians.

Finally, unlike Trump, Orjol is not yet able to accept Bitcoin donations. Running on a Bitcoin-only platform was already a significant milestone and a novelty for the French political climate, but she commented that it is a matter of priority in the coming months.

When asked what Orjol would do if she were to one day become President, she replied in a flash: “I would make Bitcoin legal tender.” The decision would reduce the capital gains taxes on Bitcoin from 30% to zero, similar to the actions of Nayib Bukele, President of El Salvador, on June 9, 2021.

Addenda: Since recording the interview, editing, and writing the follow-up article, the French election concluded. Aurore scored 100 votes, or less than 1% of her local electoral votes, sharing: “These first Orange votes in 28 of the 30 villages with ballots are historic and confirm our initial convictions.”