Ko Ju-Chun, a member of Taiwan's Legislative Yuan, has proposed the creation of a strategic Bitcoin reserve to enhance the country's financial resilience.
Proposal for Bitcoin Reserve
Ko Ju-Chun, a legislator from the Kuomintang party, has proposed the establishment of a strategic Bitcoin reserve in Taiwan citing "national security". He emphasizes that Bitcoin and other decentralized assets could serve as crucial tools in strengthening the country’s economic resilience.
Global Trends in Strategic Reserves
There is a growing global interest in utilizing cryptocurrencies as strategic reserves. For instance, New Hampshire recently became the first US state to allow its government entities to invest in cryptocurrencies, including Bitcoin. Ko suggested that Taiwan could allocate up to 5% of its $50 billion reserves to Bitcoin.
China's Interest in Bitcoin and US Comparisons
Some experts, including David Bailey, predict that China may also move towards creating its own Bitcoin reserve, aligning with US initiatives. Reports indicate that the United States holds significant quantities of Bitcoin, and if China decides to follow suit, it could have a major impact on the global crypto industry.
Ko Ju-Chun's initiative to establish a Bitcoin reserve underscores the importance of cryptocurrencies in ensuring Taiwan's financial stability and the ongoing global interest in decentralized assets.
