After previous speculation about strategic Bitcoin reserves in the United States, Russia, Brazil and Poland, Japan now joins this list.
Japanese National Diet member Satoshi Hamada submitted a formal request on December 11 to discuss the possibility of a national Bitcoin reserve. With Bitcoin hitting a new all-time high above $100,000 earlier this month, the issue no longer seems to be ignored by governments worldwide.
Japan is following the US example
Satoshi Hamada’s proposal is reminiscent of a plan by U.S. Senator Cynthia Lummis earlier this year. She suggested that the US buy 5% of the total Bitcoin supply in the coming years. Now this trend seems to have spread to Japan. With his appropriate first name, Hamada has submitted a similar proposal to the Japanese government.
Although Hamada is a member of a small party, his call could still gain support. Yuichiro Tamaki, leader of the Democratic Party for the People, has previously indicated that he sees potential in Bitcoin. He also advocates tax breaks and reforms to stimulate the growth of crypto companies in Japan.
Bitcoin as a strategic asset: global interest is growing
The call for Bitcoin reserves is becoming louder and louder, not only in Japan. In the United States, former President Donald Trump wants to give Bitcoin a central role in his policy if he is re-elected. Texas even introduced a bill for a state reserve in Bitcoin.
Outside the US, other countries have also presented plans. In Brazil, proposals have been submitted to add Bitcoin to the treasury, while in Europe, both Russia and Poland are exploring how national crypto reserves could take shape.
Although most countries have not yet taken concrete steps, the discussion about Bitcoin reserves is steadily growing within governments worldwide. It is quite possible that more and more countries will embrace Bitcoin as a strategic asset in the coming years.
A global shift
What started out as a niche asset for individual investors now appears to be growing into a serious part of national strategies. The global interest in Bitcoin as a reserve shows how the perception of cryptocurrency has changed dramatically in just a decade. It remains to be seen which countries will be the first to take concrete action, but it seems inevitable that the trend will continue to expand.
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Source: https://newsbit.nl/japan-overweegt-strategische-bitcoin-reserve-nieuwe-mondiale-trend-in-opkomst/
