One of the world's most powerful economies is discussing the establishment of a national Bitcoin reserve.
Japanese lawmaker Satoshi Hamada described Bitcoin (BTC) as a potential 'national asset' and called for the government to establish a national Bitcoin reserve. This proposal echoes similar initiatives by legislators in Argentina, Russia, and other countries.
Kokumin Hogo Party representative Hamada told NHK in a formal written request submitted to the government, urging that Bitcoin be regarded as a strategic reserve asset. According to media outlet CoinPost and official parliamentary records, Hamada's request indicates a growing global trend towards viewing Bitcoin as a national strategic reserve asset.
Hamada specifically mentioned developments in Brazil and the United States, where authorities are reportedly exploring the possibility of incorporating Bitcoin as part of their treasury reserves. He suggested that Japan should follow suit and convert a portion of its foreign exchange reserves into cryptocurrencies like Bitcoin.
Hamada emphasized the unique qualities of Bitcoin and pointed out:
"The neutrality and decentralization of Bitcoin allow it to support economic activities without relying on any specific currency or institution."
Hamada's proposal emphasizes the potential of Bitcoin as a buffer against geopolitical risks, arguing that Bitcoin is less influenced by specific countries or institutions and can provide economic stability during uncertain times.
In a document titled (Understanding the Initiatives of the U.S. and Other Countries to Establish National Bitcoin Reserves), Hamada pointed out that Bitcoin will soon be recognized globally as a 'national strategic asset.'
The Japanese government is expected to respond to Hamada's proposal in the coming weeks. His party holds only two seats in parliament.
