A proposal by Hong Kong lawmaker Wu Jiexhuang to add Bitcoin to the city’s national reserves has sparked new debates about the future role of digital assets in financial security.
Wu’s proposal, embedded in the context of China’s “one country, two systems” policy, aims to position Bitcoin as a strategic reserve asset, with potential implications for Hong Kong’s financial stability.
In an interview with state-run newspaper Wen Wei Po, Wu emphasized the importance of studying the market effects of Bitcoin exchange-traded funds (ETFs) as a first step. He noted that jurisdictions such as El Salvador and Bhutan have already integrated Bitcoin into their national reserves, while some US states are also considering similar moves.
Leverage global trends
Wu’s proposal is in line with a broader global trend in which Bitcoin is increasingly seen as a potential store of value. “If major economic powers include Bitcoin in their strategic reserves, it could lead to greater price stability and prompt other nations to follow suit,” Wu explained. He believes such a move would reduce reliance on traditional assets such as gold and government bonds and potentially change the way financial stability is achieved.
Source: X
Lawmakers also pointed to recent comments by US President-elect Donald Trump that Bitcoin could be classified as a strategic reserve asset. “This could have a significant impact on traditional markets and be a sign of Bitcoin’s growing adoption in the financial ecosystem,” Wu added.
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