Wu Jiezhuang, a member of the Legislative Council of Hong Kong SAR, has proposed that Bitcoin be included in the country’s strategic budgetary reserves in the future.
This suggestion comes in response to Donald Trump’s commitment to establish a national strategic stockpile of Bitcoin. Jiezhuang argues that Bitcoin and Web3 play vital roles in the progress of globalization and suggests that the SAR government should carefully and gradually explore the possibility of using Bitcoin as a fiscal reserve tool by responsibly opening up the market.
The return of Bitcoin in 2024 during economic difficulties has sparked a renewed discussion about the potential adoption of the leading cryptocurrency as a means of holding value at the national level.
Several influential individuals, including former US President Donald Trump, have advocated for more acknowledgment of Bitcoin, employing it as a strategic tactic to attract support from the crypto industry in the forthcoming election.
Jiezhuang has the same viewpoint as Michael Saylor, who emphasized the investment superiority of Bitcoin over real capital and advocated for individuals and the government to embrace crypto as a means of preserving value.
