Key Takeaways
- A Hong Kong lawmaker is advocating for the establishment of a strategic Bitcoin reserve to enhance the region's financial stability and innovation.
- The proposal highlights the growing recognition of Bitcoin as a valuable asset by government officials and financial policymakers.
- This follows Trump’s speech to the Bitcoin Conference over the weekend, in which he vowed to build a “strategic Bitcoin stockpile” for the US if elected.
Hong Kong Lawmaker Advocates for Bitcoin Reserve
A member of Hong Kong’s Legislative Council has called on the territory to research and consider including Bitcoin in strategic financial reserves.
Ng, a self-proclaimed Web3 advocate, serves as chair of the Hong Kong Legislative Committee’s Web3 and Virtual Assets Development Subcommittee.
In a tweet Sunday, Johnny Ng said that “as long as it is compliant,” it was “worth considering” including Bitcoin in a strategic financial reserve.
Johnny Ng's case for Bitcoin
He considers Bitcoin to be a significant milestone in the development of globalization.
“The global acceptance of Bitcoin is constantly increasing, and Bitcoin is seen by the public as 'digital gold' in the context of its technology".
Ho's proposal aligns with a growing global trend of governments and institutions considering Bitcoin as a strategic asset.
Wants Hong Kong to build an ecosystem that attracts globally competitive talent and capital, public chains and exchanges, enterprises and projects, etc. to the city
He pledged to “discuss the feasibility and opportunities of including Bitcoin in financial reserves with different stakeholders in Hong Kong,” adding that he would report the situation to everyone in a timely manner.
This follows US Presidential candidate Donald Trump’s speech to the Bitcoin Conference over the weekend, in which the former President vowed to build a “strategic Bitcoin stockpile” for the United States if elected.
