Taiwanese legislator Ko Ju-Chun proposed that the government consider adding Bitcoin to the national reserves as a strategic measure against global economic risks.
Introduction to the Proposal
Ko Ju-Chun, a legislator in Taiwan, urged the government at the National Conference to explore the addition of Bitcoin to the country's national reserves. He stated that such a move would help mitigate the increasing economic and geopolitical risks.
Arguments for Bitcoin in Reserves
Ko emphasized that Bitcoin's decentralized nature, fixed supply, and censorship resistance make it an attractive asset during financial instability. He proposed allocating up to 5% of Taiwan's $50 billion investment reserves to Bitcoin, providing an example of the current reserves: "We currently have a gold reserve of 423 metric tons, and our foreign exchange reserves amount to $577 billion."
Taiwan as a Crypto-Friendly Jurisdiction
Ko’s proposal is part of a broader trend in which Taiwan aims to become more open to cryptocurrencies. The Financial Supervisory Commission is preparing to launch institutional trials for crypto custody services, signaling a shift towards digital finance.
The proposal to add Bitcoin to Taiwan's national reserves highlights the growing importance of digital assets in the global economy. Despite certain risks associated with cryptocurrencies, Taiwan's stance as a crypto-friendly jurisdiction continues to strengthen.
