Under the global Bitcoin reserve craze, Japan seems to remain cautious

On the global geopolitical stage, Bitcoin is rapidly emerging as a key asset. However, despite the increasing momentum for Bitcoin worldwide, Japan appears to be hesitating over whether to join this trend.

Japanese Prime Minister Shigeru Ishiba recently stated that due to a lack of international strategic information, his stance on Bitcoin reserves is not very clear. The Japanese government also clarified in its official response on December 20 that cryptocurrencies like Bitcoin do not fall within the legal framework of foreign exchange reserves.

Japan's cautious attitude stems from concerns about security, liquidity, and volatility. The Japanese government stated that these reserves are primarily intended to stabilize foreign currency-denominated assets and the bond market, while Bitcoin's high volatility runs counter to that goal.

NHK National Protection Party member Satoshi Hamada once suggested that Japan follow the United States by converting part of its foreign exchange reserves into cryptocurrencies like Bitcoin, but the government reiterated that the priority in managing special accounts for foreign exchange reserves is to ensure security and liquidity.

Although the Japanese government itself does not directly hold Bitcoin, the Government Pension Investment Fund (GPIF), as one of the largest retirement savings funds in the world, with managed assets exceeding $15 trillion, is currently exploring the inclusion of Bitcoin in its investment portfolio to achieve diversification.

In addition, both the United States and Russia have taken proactive measures in building Bitcoin reserves. The United States holds a significant amount of Bitcoin reserves, totaling 207,189 BTC, worth about $2 billion, mainly obtained through criminal seizures.

Russian lawmakers have also proposed the establishment of strategic Bitcoin reserves and emphasized that Bitcoin has the potential to become a stable alternative to traditional high-volatility currencies, which may be more significant for countries facing sanctions pressure.

In summary, this is an era full of uncertainties but also opportunities. Whether Japan will continue to observe or join this global Bitcoin reserve competition is worthy of public attention.

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