Former Binance CEO Changpeng ‘CZ’ Zhao creates a thread on X, showcasing news headlines that point to governments establishing strategic Bitcoin reserves, much like the plans introduced in the U.S.
In a recent post, CZ shared a headline that showed how a Japanese lawmaker was pushing for the creation of a national strategic Bitcoin (BTC) reserve. He posted the headline along with a sarcastic caption of “probably nothing…” accompanied by a laughing emoji.
The crypto industry figurehead linked the post to a previous one he made in early December with the same caption. The post showed a similar move that happened in Russia, when a lawmaker suggested the creation of a strategic Bitcoin reserve in light of current geopolitical issues.
CZ’s post seemingly hints at a growing global trend, where people are starting to urge their governments to form Bitcoin reserves, ultimately following in America’s footsteps.
https://twitter.com/cz_binance/status/1868118429749899762?s=61&t=Goh7F7TZjoAVMq_tusVLpw
Many X users were quick to comment under CZ’s post, expressing their certainty that Bitcoin domination was evidently happening across the globe after President-elect Donald Trump confirmed his plans to build a Bitcoin reserve.
“Imagine the space race equivalent when countries start buying BTC as a reserve currency,” wrote @Cryptoking on X.
“We love to see progress in the space!” wrote @FEGtoken in another comment.
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On Dec. 11, a Japanese lawmaker — ironically named Satoshi Hamada — submitted questions for the government, asking whether they would consider forming a national Bitcoin reserve.
Hamada directly referred to the U.S. government’s efforts to introduce a strategic Bitcoin reserve in the country, claiming that such a move could add a “tremendous amount of power” to the markets.
“Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?” asked Hamada in his translated submission.
As reported by crypto.news earlier this month, Anton Tkachev, state deputy of Duma, Russia urged the government to consider creating a Bitcoin strategic reserve in the country.
In Tkachev’s proposal, he stated that Bitcoin would not only serve as a currency but also as an alternative asset for storing national funds. He argued that Bitcoin was not impacted by inflation nor cross-border sanctions, unlike the traditional currencies.
Brazil’s Congress joined the race early on in Nov. 26, when Brazilian legislators in the Chamber of Deputies proposed a Bitcoin bill that would limit Brazil’s reserves to approximately $18.5 billion worth of Bitcoin. Regulators also recommended allocating 5% of the nation’s $370 billion treasury to the Bitcoin strategic reserve.
Since the start of his presidential campaign, Trump has vowed to create a national Bitcoin reserve. After his presidential win, Senator Cynthia Lummis reaffirmed Trump’s plans to create a strategic Bitcoin Reserve in the U.S.
A number of states across America have also been inching towards establishing Bitcoin reserve bills, including Texas, Alabama and Pennsylvania among others. The Canadian city of Vancouver also recently jumped on the wagon with councilors voting in favor of Mayor Ken Sim’s “Bitcoin-friendly” motion, which included converting a portion of Vancouver’s current financial reserve.
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