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Hong Kong Lawmaker Proposes National Bitcoin Reserve

Hong Kong lawmaker Wu Jiexhuang has proposed including Bitcoin in its national reserve. Wu stated that the digital asset reserve is intended to improve the financial security of the City of a Thousand Temples.

The plan refers to US President-elect Donald Trump's proposal to classify Bitcoin as a strategic reserve asset. Wu also suggested that Hong Kong study the impact and benefits of US-based Bitcoin exchange-traded funds (ETFs).

Previously, he compared Hong Kong to countries such as El Salvador, several US states, and Bhutan that have integrated Bitcoin into their foreign exchange reserves. Wu highlighted the growing acceptance of Bitcoin globally.