Lawmaker Satoshi Hamada proposes following the example of initiatives by the USA, Russia, and Brazil in adopting Bitcoin as a strategic reserve.
Japan could join the growing number of nations considering the establishment of a national Bitcoin reserve. The proposal comes from lawmaker Satoshi Hamada, who raised the issue on December 11 before the Japanese House of Councillors, suggesting the “conversion of part of the country’s foreign exchange reserves into cryptocurrencies such as Bitcoin.” Hamada highlighted how adopting Bitcoin could enhance Japan’s financial markets and strengthen its economic position.
The initiative aligns with an international trend, as several countries, including the United States, Russia, and Brazil, are already exploring similar strategies.
Japan, with a GDP of $4 trillion, stands as the world’s fourth-largest economy.
Hamada, a member of a party holding only two seats in parliament, stated:
“I believe that consideration should be given to this matter, and I would like to hear the government’s views. Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”
The proposal is also supported by other political figures, such as Yuichiro Tamaki, leader of the Democratic Party for the People, who recently promised to reduce taxation on cryptocurrencies.
