Japanese House of Councillors member Satoshi Hamada has proposed the introduction of a national Bitcoin reserve. He emphasized that Japan should follow the moves of other countries considering Bitcoin reserves.
Background of the Proposal
Hamada highlighted that countries like the United States, Russia, Brazil, and Poland are considering establishing Bitcoin reserves.
He noted that discussions around Bitcoin reserves have intensified as Bitcoin’s price surpasses $100,000.
Key Statements
Hamada stressed the need for Japan to evaluate whether part of its foreign exchange reserves should be converted into Bitcoin.
He mentioned that a national Bitcoin reserve could positively impact cryptocurrency investors and added, "If Bitcoin has a future, establishing a reserve could be advantageous."
Political Reactions
Despite being a member of a minority party with only two seats in the Japanese Parliament, Hamada's vision has gained support among cryptocurrency enthusiasts.
Yuichiro Tamaki, leader of the Democratic Party for the People, also supports cryptocurrencies and has pledged to reduce cryptocurrency taxes if re-elected.
Implications and Outlook
Hamada’s proposal opens the door for the Japanese government to consider Bitcoin as a strategic asset.
However, the government and Parliament’s stance on the matter remains unclear.
