Taiwan Legislator Proposes Bitcoin for National Reserves

A Taiwanese legislator has proposed a significant shift in the country’s financial strategy: integrating Bitcoin into its national reserves. Ko Ju-Chun, a Kuomintang member of Taiwan’s Legislative Yuan, suggests allocating 5% of the nation’s reserves to Bitcoin, aiming for approximately $2.5 billion. This move is driven by concerns about global economic uncertainty and geopolitical risks. He sees Bitcoin as a hedge against these uncertainties and as an uncorrelated asset that can provide liquidity during crises while reducing reliance on the US dollar. The proposal aims to bolster Taiwan’s financial resilience in the face of unpredictable times. 5% allocation of national reserves suggests a bold step, potentially influencing the entire Asian financial landscape. This strategy could encourage other countries to explore similar measures and pave the way for regulatory changes regarding cryptocurrency adoption.