At the 2024 Asia Blockchain Summit, Samson Mow, CEO of Bitcoin technology company JAN3, made an innovative proposal to Taiwan, suggesting that Taiwan purchase 83,000 BTC and use Bitcoin as part of its reserve strategy.

It is reported that this purchase amount is calculated based on Taiwan’s gold reserves compared to the United Kingdom. Mow’s proposal is intended to emphasize the importance and potential of Bitcoin as an emerging asset class in the country’s financial strategy.

Will Taiwan be the next pioneer in Bitcoin reserves?

Samson Mow, CEO of JAN3, has extensive experience in promoting Bitcoin adoption. He played a key role in El Salvador’s Bitcoin adoption plan, and now he has set his sights on Taiwan. In his keynote speech at the Asia Blockchain Summit 2024, Mow made a point that if Taiwan adopts Bitcoin (BTC) as part of its strategic reserves, it will be able to replicate El Salvador’s success story, bringing Taiwan economic benefits in terms of tourism, GDP growth, job opportunities, and foreign investment. At the same time, he also added: “The script can be copied/pasted, and JAN3 can help it.”

Mow's proposal is for Taiwan to accumulate 83,000 BTC as a national reserve, a suggestion based on a comparison of Taiwan's gold reserves with the UK's. Because Taiwan currently has 422 tons of gold reserves, about 35% higher than the UK's 310 tons. Mow logically infers that if the UK holds 61,245 BTC, Taiwan should hold 35% more than the UK's Bitcoin holdings to maintain its relative advantage in gold reserves.

Mow's remarks highlighted the potential of Bitcoin in national/regional financial strategies, and he believed that Taiwan had every reason and ability to increase its Bitcoin reserves to strengthen its economic risk resistance and diversification of future development. This proposal is not only a challenge to Taiwan's financial innovation, but also a positive response to the global trend of cryptocurrency adoption.

Taiwan’s attitude towards Bitcoin strategic reserves

Samson Mow's Bitcoin investment plan is expected to account for less than 1% of Taiwan's GDP, a proportion that shows both foresight and prudence in strategic layout. At the same time, Mow also emphasized the rationality and feasibility of this investment by comparing Taiwan's military expenditure last year, which accounted for 2.6% of the entire GDP. He said on Thursday through social media X that using 1% of funds to build Bitcoin reserves is a wise strategic choice.

Although this innovative proposal has not yet received a response from the top government officials, Mow revealed that someone told him that someone in the Taiwanese government was paying attention to his speech, which also leaves suspense for potential policy changes in the future.

In addition, this proposal has sparked heated discussions among experts and opinion leaders. User X @VeteranHODL believes that Bitcoin can enhance the resilience of Taiwan’s financial system under potential political and economic pressures and is a high-level economic insurance.

Globally, countries are actively exploring the possibility of incorporating Bitcoin into national strategic reserves. Former US President Donald Trump's speech at the 2024 Bitcoin Conference, in which he advocated that the United States should establish a "national strategic reserve" of Bitcoin to ensure its leadership in the global cryptocurrency field, has further promoted widespread attention and discussion on this issue.

This trend has also attracted the attention of Johnny Ng, a member of the Hong Kong Legislative Council, who expressed support for Bitcoin as a reserve asset and believed that it has the potential to become a valuable economic guarantee. This shows that Bitcoin, as an emerging reserve asset class, is gradually gaining recognition and attention from more national and regional policymakers.

#台湾 #比特币战略储备 #加密货币趋势

Conclusion:

The proposal of Bitcoin as Taiwan's strategic reserve is not only an exploration of financial innovation, but also a thoughtful consideration of the future economic model. As the global economic landscape continues to evolve, the role and status of cryptocurrency are constantly being redefined. Whether Taiwan can seize this historical opportunity and become a leader in financial innovation will depend on its acceptance of emerging technologies and its response strategies to future challenges.

In this global financial revolution, Bitcoin may become a bridge between the traditional economy and the digital economy, providing countries and regions with new growth drivers and risk management tools. We look forward to seeing more countries or regions bravely take this step and jointly open a new chapter in the financial field.