Taiwanese Lawmaker Ko Ju-chun Proposes Bitcoin (BTC) Be Included in the Country's Official Reserves

This proposal comes at a time when global interest in cryptocurrencies is rising. Just a few hours before Ko's statement, New Hampshire became the first U.S. state

Taiwanese lawmaker Ko Ju-chun has suggested that Bitcoin be included in the country’s official reserves. According to him, this move could help Taiwan in better handling economic instability and strengthen its financial resilience.

Ko believes that Bitcoin can coexist with gold and other currencies, potentially boosting Taiwan’s national security and economy.

“We must quickly seize these opportunities; otherwise, Taiwan will surely lag behind,” Ko warned.

His comments come at a time when global interest in cryptocurrencies is quickly increasing. Just a few hours before Ko’s statement, New Hampshire became the first U.S. state to legalize government investments of cryptocurrencies, including Bitcoin.

This shift in thinking is part of a broader change in how lawmakers are viewing cryptocurrencies, not just as speculative investments, but as strategic financial instruments that can be used to support national interests.

Ko’s Bitcoin Strategy for Taiwan

Ko has proposed that Taiwan allocate as much as 5% of its $50 billion foreign exchange reserves into Bitcoin. This would mean additional digital assets in the country’s financial portfolio, apart from the gold and foreign currencies.

The proposal is still in its early stages, but it could spark a broader conversation about Bitcoin’s role in national economic policy.

The proposal to include Bitcoin in national reserves is part of a broader trend that has been gaining momentum in recent years.

Advocates for this strategy argue that Bitcoin can serve as a hedge against inflation and geopolitical risks. Its decentralized and fixed supply nature makes it an interesting asset class for countries that are looking to diversify their reserves and reduce their dependence on traditional financial institutions.

Bitcoin could also serve as a safety net from the devaluation of currency during economic crises.

However, there are concerns about Bitcoin’s volatility and the security risks that can be connected with digital assets. The cryptocurrency market is known for its volatility, and many fear that its price fluctuations can destabilize an entire national reserve.

These concerns are something that Taiwan would have to carefully consider if it were to adopt this proposal.

Despite these risks, Ko’s proposal signals a willingness to explore how digital assets can be integrated into national finance systems.

With the geopolitical pressures on Taiwan growing, Bitcoin might be an attractive addition to stabilize the country’s finances. Only time will tell whether Taiwan will adopt this idea, but Ko’s proposal is certainly pushing the boundaries of traditional financial practices.

News data source: kdj.com

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