In most monarchies in Europe, the new monarch can choose their regnal title- basically their name as the reigning monarch, and quite frequently that’s not their given name.
For tradition reasons, or because they want to evoke the image of a past and potentially revered ruler, they will frequently choose a name that’s been used previously.
The Pope of the Catholic Church does the same thing on ascending to the throne of Vatican City.
It’s mostly about tradition.
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