Taiwanese legislator $BTC
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Ko Ju-Chun has recently advocated for incorporating Bitcoin into Taiwan's strategic financial reserves, highlighting its potential to bolster national security and economic resilience. As a member of the Legislative Yuan representing the Kuomintang (KMT) party, Ko emphasized that Bitcoin and other decentralized assets could serve as tools to enhance Taiwan's financial stability, especially amidst concerns over currency volatility and reliance on the U.S. dollar.
In discussions with Samson Mow, CEO of Bitcoin technology firm JAN3, Ko explored the idea of Taiwan acquiring approximately 83,000 BTC. This figure is based on Taiwan's gold reserves being about 35% higher than those of the UK, which holds 61,245 BTC. Mow suggested that a similar proportion in Bitcoin could serve as a strategic reserve for Taiwan. $ETH
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Ko also proposed allocating up to 5% of Taiwan's $50 billion reserve to Bitcoin, equating to around $2.5 billion. He argued that such diversification could reduce the nation's vulnerability to external economic pressures and technological disruptions in banking services.
This initiative aligns with a broader global trend, where regions like Arizona and New Hampshire in the U.S. have enacted legislation to establish Bitcoin reserves. These moves reflect a growing interest in leveraging cryptocurrencies as strategic assets to enhance financial resilience.$BTC
While Taiwan has not yet formalized any policy changes regarding Bitcoin reserves, Ko's advocacy indicates a shift towards considering digital assets in national financial strategies. The ongoing discussions may pave the way for Taiwan to join other jurisdictions in integrating cryptocurrencies into their economic frame work#TradeOfTheWeek #BTCtrade #CryptoComeback #StripeStablecoinAccounts
