According to Decrypt, Japanese lawmaker Satoshi Hamada submitted a proposal to the Diet, suggesting that the government consider establishing a national Bitcoin reserve. The proposal was submitted to the Diet website on December 11.
Hamada's proposal echoes similar calls from lawmakers around the world, including in Russia, Brazil, Poland and the United States. Bitcoin's recent break above $103,000 has sparked interest in its reserves.
Although Hamada’s party has only two seats in the upper house of parliament, his proposals may find support in Japan’s legislature. Member of parliament Yuichiro Tamaki also supports Bitcoin and has proposed tax breaks and regulatory changes for cryptocurrency holders and companies.
President-elect Trump has pledged to keep all Bitcoins held by the government, and Senator Cynthia Lummis has proposed acquiring 1 million Bitcoins for the U.S. Treasury over five years. Lawmakers in Brazil and Russia have also made similar reserve proposals.
