Describing Bitcoin (BTC) as a potential “national asset,” Japanese MP Satoshi Hamada has called on the government to establish a national Bitcoin reserve. The proposal echoes similar initiatives by lawmakers in Argentina, Russia and other countries.
Hamada, a representative of the People’s Protection Party, told NHK in a formal written request to the government, asking for Bitcoin to be considered a strategic reserve asset. According to media outlet CoinPost and official records from the parliament, Hamada’s request speaks to the growing global trend towards Bitcoin being considered a national strategic reserve asset.
Hamada specifically pointed to developments in Brazil and the United States, where authorities are reportedly exploring the possibility of holding Bitcoin as part of their treasury reserves. He suggested Japan follow suit by converting some of its foreign exchange reserves into cryptocurrencies like Bitcoin.
Hamada highlighted the unique qualities of Bitcoin, stating:
“Bitcoin’s neutrality and decentralized nature allows it to support economic activity without relying on any particular currency or institution.”
Hamada’s proposal highlighted Bitcoin’s potential to act as a buffer against geopolitical risks, arguing that Bitcoin, which is less influenced by specific countries or institutions, could provide economic stability in uncertain times.
In a document titled “The Question of Understanding the Move to Create a National Bitcoin Reserve in the United States and Other Countries,” Hamada noted that Bitcoin could soon be recognized globally as a ‘national strategic asset.’
The Japanese government is expected to respond to Hamada's proposal in the coming weeks. His party has only two seats in parliament.
*This is not investment advice.
