Satoshi Hamada, a Japanese lawmaker, has urged the government to consider incorporating Bitcoin (BTC) into its foreign exchange reserves. He highlighted its potential as a strategic asset in response to the increasing global interest in cryptocurrency adoption.
Hamada Questions Japan’s Stance on Crypto Reserves
During a parliamentary session on December 11, Hamada raised questions regarding Japan’s stance on crypto reserves. He referred to the United States and Brazil, where officials have explored Bitcoin reserves as a potential safeguard against economic instability.
Hamada asked, “Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”
Global Recognition of Bitcoin’s Potential
Hamada further emphasized the influence such a move could have on global markets. His remarks coincided with Bitcoin’s milestone price of over $100,000, reflecting its growing acceptance and value. As of December 13, Bitcoin was trading at $101,351, according to CryptoSlate data.
Economic Context and Bitcoin’s Strategic Value
Hamada’s comments come amid Japan’s economic challenges, as it recently dropped behind Germany to become the world’s fourth-largest economy. Advocates argue that integrating Bitcoin into Japan’s reserves could enhance its financial flexibility and position the country as a leader in the digital asset space.
Global Trends and the Bitcoin Reserve Proposal
This proposal aligns with international trends, such as discussions in the U.S. after the election of a crypto-friendly administration and similar proposals in Brazil. Russian lawmakers have also suggested utilizing Bitcoin as part of government reserves.
The Growing Recognition of Cryptocurrencies
While the Japanese government has yet to officially respond to Hamada’s proposal, the lawmaker’s comments reflect a growing acknowledgment of the role cryptocurrencies could play in shaping national economic strategies.
Bitcoin’s continuous surge beyond $100,000 strengthens the argument for its potential inclusion in sovereign financial planning
The post Japanese lawmaker urges consideration of Bitcoin reserve in light of US efforts appeared first on CryptoSlate.
