Taiwan Official Proposes Bitcoin As Part Of National Reserve Strategy
A Taiwanese politician urged the government Friday to include Bitcoin in its reserve composition. He made the appeal during the National Conference and amplified the message on X. His purpose is straightforward: incorporate Bitcoin along with gold and foreign currency to assist in protection against shock drops.
Push For Bitcoin In Reserves
In the opinion of JuChun, Bitcoin is capable of withstanding large fluctuations in the global economy. He informed the conference that introducing even a thin slice of Bitcoin to Taiwans asset stack might make the financial system more resilient.
He also appealed to crypto enthusiasts on X, referring them to his speech and asking for feedback. His tone was assertive and straightforward. He explained that this action would not be a substitute for current reserves, but possibly reinforce them.
Meeting With Bitcoin Advocate
According to reports, JuChun last week had a meeting with Samson Mow, who is the CEO of Jan3, a firm that specializes in extensive Bitcoin adoption. Jan3 released a statement on Thursday emphasizing the imperative for countries to prepare against currency fluctuations through the holding of Bitcoin.
Mow explained to JuChun that fiat currencies have turned more volatile. Their conversation addressed technical barriers, security requirements and how Taiwan could purchase and hold BTC without risks.
Current Reserve HoldingsTaiwan is exploring a potential #Bitcoin reserve strategy amid currency volatility, following talks between @Excellion and Legislator Ko Ju-Chun (@dAAAb).
Read more via @BTCTimescom: https://t.co/HfUfDWJXWH
JAN3 (@JAN3com) May 8, 2025
Taiwan currently possesses 423 metric tons of gold and some $577 billion in foreign exchange assets. Ju-Chun noted that the New Taiwan Dollar has fluctuated wildly at times. He attributed higher global prices and regional tensions in East Asia as the cause.
He contended that for over 15 years, Bitcoin has demonstrated it can defy external pressure and remain accessible when other assets collapse. That, he added, is worth a place in the national locker.
Proposal To Allocate 5%Taiwan could follow suit! We could allocate a maximum of 5% of our $USD 50 billion reserve to $BTC. https://t.co/HmOTkf9gqy
Ko Ju-Chun (@dAAAb) May 7, 2025
Ju-Chun proposed that Taiwan invest up to 5% of a $50billion reserve in Bitcoin. That is approximately $2.5billion. He mentioned that New Hampshire recently approved the same action, and referenced US President Donald Trumps directive to create a US Bitcoin reserve. He also mentioned that some large economies, such as the UK and Japan, are still waiting on the sidelines. He indicated that Taiwan can lead Asia if it acts now.
Some experts caution that Bitcoin can rise or fall 10 to 20% in a week. Others are concerned about the legal steps required to hold a digital asset at the state level. JuChun said these issues can be contained. He called on lawmakers to examine how central banks could buy, hold and insure Bitcoin. He also requested clear rules to ensure any losses do not spill over into the broader economy.
Featured image from Gemini Imagen, chart from TradingView
Text source: NewsBTC
