A prominent Hong Kong lawmaker has responded positively to U.S. presidential candidate Donald Trump’s recent comments on Bitcoin, offering a similar idea for the Asian financial hub.
Legislative Council member Wu Jiezhuang believes that if the United States really decides to make Bitcoin part of its national strategic reserve, then Hong Kong should also consider taking the same measures. He pointed out in his speech last weekend that with the two US presidential candidates discussing the concept of Bitcoin strategic reserve, this issue is likely to have aroused heated discussions around the world.
"I think it is an issue worthy of our careful consideration whether to include Bitcoin in the official financial reserves of a country or region," said Councillor Ng Kit-chung. His remarks suggest that as the global acceptance of cryptocurrencies continues to increase, Hong Kong is also expected to explore the possibility of incorporating them into the financial system.
A forward-looking view of Hong Kong’s Bitcoin reserves
Hong Kong Legislative Council member Wu Jiezhuang pointed out in a discussion on the global acceptance of Bitcoin that as the public gradually regards cryptocurrencies as "digital gold", the strategic value of Bitcoin is becoming increasingly prominent. He suggested that in view of its technical background and growing public recognition, the inclusion of Bitcoin in strategic financial reserves in the future is a topic worthy of in-depth study, especially under the premise of complying with relevant regulations.
Wu Jiezhuang expressed confidence in the Hong Kong government's advanced position on cryptocurrency regulation and believed that Hong Kong has the potential to further open up the market in a gradual, forward-looking and responsible manner. He emphasized that Hong Kong should strive to build an ecosystem that not only attracts globally competitive talents and capital, but also attracts public chains, exchanges, enterprises and projects to take root in Hong Kong.
Recently, after American politicians Donald Trump, Robert F. Kennedy Jr. and Senator Cynthia Loomis proposed the concept of Bitcoin strategic reserves at the Bitcoin 2024 conference, global discussions on this issue have become more heated.
Anthony Pompliano, CEO of Professional Capital Management, suggested on social media X that other candidates may also begin to consider the proposal of a strategic reserve of Bitcoin.
However, Bitcoin industry user Samson Mow also believes that the discussion about Bitcoin as a reserve asset has begun, and predicts that the public's traditional perception of safe and volatile assets will change in the coming months.
At the same time, Louisiana Governor Jeff Landry also expressed similar views on social media, emphasizing the state's leadership in the Bitcoin field and advocating to maintain this advantage by establishing a strategic Bitcoin reserve.
Bitcoin and Treasury Debt Repayment Strategies
Dennis Porter, founder of the Satoshi Action Fund, has made a point that he believes Bitcoin is the only viable way for the United States to solve its $34 trillion national debt problem. Porter’s comments highlight the role Bitcoin could play in the country’s fiscal strategy, hinting at its potential as an asset’s stability and store of value.
However, this view is not without controversy. Critics point out that if the government really uses Bitcoin to repay debts, it will theoretically need to sell Bitcoin on the market, which may have a negative impact on Bitcoin's price and market stability. At the same time, a large-scale sell-off by the government may cause a shock to the supply and demand balance, thereby affecting the entire cryptocurrency market.
Despite these concerns, Bitcoin market sentiment does not seem to be affected. After a series of positive discussions over the weekend, the price of Bitcoin approached $70,000 in early Asian trading on Monday, showing investor confidence in Bitcoin and market optimism.
#比特币战略储备 #香港金融创新 #加密货币监管 #比特币与国债 #全球经济趋势
Conclusion:
On the global financial stage, Bitcoin is gaining unprecedented attention as a potential strategic reserve asset. From the positive response of Hong Kong legislator Wu Jiezhuang to the heated discussions of American public figures, Bitcoin's strategic value and global recognition continue to rise. This move not only highlights the feasibility of Bitcoin as a war reserve asset, but also indicates the key role it may play in future economic strategies.
However, the actual application of Bitcoin in the finances of various countries or regions and its potential impact on the market require a balance between its potential advantages and market risks. This requires policymakers, investors and the entire industry to work together to ensure the healthy and stable development of this emerging asset. As this trend continues to develop, we look forward to a more open and innovative financial future.
