A lawmaker in Japan has called on the government to create a national Bitcoin reserve.
According to records from Japan’s House of Councillors, Satoshi Hamada, a member of the People’s Protection Party, submitted a written question to the government proposing the establishment of a reserve fund for cryptocurrencies.
Hamada drew attention to initiatives in countries such as the United States and Brazil, stating that treasury officials in these countries are moving towards evaluating Bitcoin as a “strategic reserve asset.” The MP suggested to the Japanese government that they should consider “converting some of their foreign exchange reserves into virtual currencies such as Bitcoin.”
He talked about the advantages of Bitcoin
Hamada noted that Bitcoin is less susceptible to the influence of specific countries or institutions thanks to its “neutral and decentralized structure.” He emphasized that thanks to these features, Bitcoin can “support economic activities without being dependent on any specific currency.”
The MP also argued that Japan should keep up with this global trend, recalling that the Donald Trump administration in the US will appoint a cryptocurrency “responsible” and that similar movements have also begun in Brazil.
Hamada’s proposal was submitted in a document titled “Question on the status of understanding the move to establish a national Bitcoin reserve in the United States and other countries.” The Japanese government is expected to provide a written response to the proposal, which will be published on its official website.
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