{"id":11901,"date":"2025-05-09T13:51:41","date_gmt":"2025-05-09T11:51:41","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=11901"},"modified":"2025-05-09T13:51:41","modified_gmt":"2025-05-09T11:51:41","slug":"taiwan-legislator-advocates-for-national-bitcoin-reserves-at-conference","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/09\/taiwan-legislator-advocates-for-national-bitcoin-reserves-at-conference\/","title":{"rendered":"Taiwan Legislator Advocates for National Bitcoin Reserves at Conference"},"content":{"rendered":"

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Taiwanese legislator Ko Ju-Chun has urged the administration to contemplate including Bitcoin in its national reserves, proposing it could act as a safeguard against global economic instability. <\/p>\n

Ko Ju-Chun, a legislator-at-large in Taiwan\u2019s legislative assembly, the Legislative Yuan, took to X on Friday to announce that he championed Bitcoin (BTC<\/a>) investment by the Taiwanese government during the National Conference on May 9.<\/p>\n

In his comments, Ko pointed out Bitcoin\u2019s capacity to function as a shield amid global economic challenges, encouraging Taiwan to acknowledge the cryptocurrency alongside gold and foreign exchange reserves to enhance financial durability.<\/p>\n

Source: <\/em>Ko Ju-Chun<\/em><\/a><\/figcaption><\/figure>\n

Ko\u2019s declaration emerged shortly after the legislator held<\/a> discussions with Samson Mow, who endorses Bitcoin adoption by countries such as El Salvador<\/a> at his BTC technology firm Jan3.<\/p>\n

Taiwan is an export-driven economy<\/h2>\n

Ko emphasized that Taiwan operates as an export-centric economy that has undergone notable fluctuations in its national currency, the New Taiwan dollar, in the face of global inflation and escalating geopolitical tensions.<\/p>\n

\u201cOur current gold reserves stand at 423 metric tons, and our foreign exchange reserves total $577 billion, which includes investments in US Treasury bonds,\u201d the legislator conveyed.<\/p>\n

In a situation of heightened currency instability or potential regional conflicts, Taiwan may \u201cvery likely struggle to guarantee security and liquidity,\u201d Ko added, mentioning that Bitcoin could be an excellent new component of Taiwan\u2019s reserves for several reasons.<\/p>\n

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Ko Ju-Chun advocated for the adoption of Bitcoin by the Taiwanese government before the Legislative Yuan. Source: Ko Ju-Chun<\/em><\/figcaption><\/figure>\n

\u201cBitcoin has been functioning for over 15 years. It has a predetermined total supply, is decentralized, and is resilient against censorship. Numerous nations are focusing on its hedging properties. Simultaneously, during severe circumstances, it may not encounter embargo risks,\u201d he asserted.<\/p>\n

Bitcoin is not the sole solution<\/h2>\n

Referring to numerous global initiatives contemplating Bitcoin adoption<\/a> as a reserve asset, Ko underscored that he\u2019s not advocating for Bitcoin as the \u201conly remedy\u201d to escalating economic challenges.<\/p>\n

Rather, the legislator suggested incorporating a \u201csmall percentage of Bitcoin\u201d into diversified assets as instruments for sovereign asset allocation and risk management, along with backup capabilities for Taiwan\u2019s financial system.<\/p>\n

Related: <\/strong><\/em>Trump misled into promoting XRP for crypto reserve: Report<\/strong><\/em><\/a><\/p>\n

He earlier proposed that Taiwan might devote a maximum of 5% of its $50 billion reserve to Bitcoin in an X post on May 6.<\/p>\n

Source: <\/em>Ko Ju-Chun<\/em><\/a><\/figcaption><\/figure>\n

\u201cAs exchange rate risk and regional uncertainty rise, it is the moment to introduce new instruments to formulate a more adaptable financial strategy framework,\u201d Ko stated, adding:<\/p>\n

\u201cAs former Dean Chen Chong remarked, Bitcoin is the weapon of the digital era. It might also represent the gold of the digital age, the silver of the digital age. Or it could be powder. A prudent nation will not allow weapons to rest in others\u2019 hands.\u201d<\/p><\/blockquote>\n

This news surfaces as Taiwan positions itself as a crypto-friendly jurisdiction, with the Financial Supervisory Commission advancing institutional trials of crypto custody services<\/a> in late 2024.<\/p>\n

Mainland China remains steadfast in its antagonistic stance towards cryptocurrency after enforcing a ban on various crypto activities<\/a>, including mining, in 2021.<\/p>\n

Magazine: <\/strong><\/em>Adam Back predicts Bitcoin price cycle \u201910x larger\u2019 yet will definitely surpass $100K<\/strong><\/em><\/a><\/p>\n