🌎 Hong Kong Politician Proposes Bitcoin Reserve Inspired by Trump

Hong Kong politician Johnny Ng has shown interest in the idea of a national Bitcoin reserve, inspired by former President Trump’s recent Bitcoin 2024 keynote speech, which included a plan for a U.S. Bitcoin reserve.

In a post on X on July 28, Ng, a member of the Hong Kong Legislative Council, shared his views on Bitcoin (BTC) and web3, emphasizing their importance and potential in the region.

Ng, an advocate for web3, suggested that Bitcoin is “worth considering” as a financial reserve for nations and regions. He pointed out the growing global acceptance of Bitcoin and its perception as “digital gold.”

The legislator also encouraged Hong Kong lawmakers to speed up the development of the web3 industry locally by attracting more crypto businesses and talent to the city.

Former U.S. President Trump recently gave a speech at the U.S. Bitcoin Summit, where he shared his views on Bitcoin. Bitcoin and web3 have already garnered attention and development in various countries, and Hong Kong is actively positioning itself as a hub to promote technological advancements.

Ng concluded his X post by stating that he would discuss the possibility of including Bitcoin in the city’s financial reserves with various stakeholders and keep the public informed.

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Elected in 2021, Ng is a member of the Legislative Council representing the newly created Election Committee constituency in Hong Kong.

At the Bitcoin 2024 conference, former President Trump mentioned that if elected in November, he would create a “strategic national Bitcoin stockpile.” Following Trump, U.S. Senator Cynthia Lummis introduced new proposed legislation detailing a plan for a Bitcoin reserve.