According to Wu Says, Hong Kong Legislative Council member Wu Jiezhuang said that Hong Kong should take advantage of the "one country, two systems" policy to include Bitcoin in the assets of the foreign exchange fund and explore the application of Bitcoin for the country.
Wu Jiezhuang pointed out that Bitcoin has the greatest impact on the prices of precious metals such as gold and silver. Although Bitcoin lacks practical functions, it may replace traditional precious metals because of its convenience in storage and carrying.
He believes that the government can use Bitcoin as an asset appreciation tool, but it needs to be held in large quantities to be effective. At present, Bitcoin's function of preserving value is greater than its function of increasing value.
