Taiwanese lawmaker Ko Ju-Chun has urged the government to consider adding Bitcoin to its national reserves as a hedge against global economic uncertainty. Ko, a legislator at-large in Taiwan’s Legislative Yuan, made this proposal at the National Conference on May 9. He emphasized Bitcoin’s potential as a hedge amid economic risks and suggested Taiwan should recognize it alongside gold and foreign exchange reserves to enhance financial resilience. This call comes after Ko’s discussions with Samson Mow, who advocates for Bitcoin adoption by states like El Salvador. Taiwan’s export-oriented economy faces currency volatility and geopolitical risks, prompting Ko to propose Bitcoin as a valuable addition to its reserves. He highlighted Bitcoin’s decentralized and censorship-resistant nature, making it a suitable asset for hedging. Ko clarified that he doesn’t view Bitcoin as the sole solution to economic challenges but rather as a part of diversified assets for risk hedging. He recommended allocating up to 5% of Taiwan’s $50 billion reserve to Bitcoin. Taiwan’s friendly approach to crypto is evident as the Financial Supervisory Commission explores institutional trials of crypto custody services. In contrast, Mainland China maintains a strict stance on cryptocurrencies with a ban on various activities, including mining. The push for Bitcoin adoption in Taiwan reflects a growing trend towards digital assets as part of strategic financial planning.
Posted in
JUST IN
