Japan Urged to Boost Bitcoin Reserves Amid Growing Crypto Interest

Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate in Asia, has urged the Japanese government to purchase 167,000 BTC following a recent conference focused on cryptocurrency adoption.

At the event, attended by key players from Japan’s financial sector, Mow emphasized Bitcoin’s potential for growth and its finite supply, paralleling Japan’s longstanding investment in gold.

He noted that Japan’s gold reserves, totaling 846 tons, could be diversified with Bitcoin to enhance the country’s financial stability. Mow described BTC as the “hardest asset in existence,” suggesting it could act as a hedge against economic fluctuations.

Despite Mow’s advocacy, Japan’s tightening crypto regulations may hinder market growth. Additionally, potential interest rate hikes from the Bank of Japan could affect Bitcoin’s appeal as an investment alternative.

Interestingly, Bhutan recently emerged as a major player in Bitcoin, becoming the fourth-largest government holder with over $750 million in BTC, largely due to its investment in crypto mining powered by hydropower resources.

While Mow pushes for Bitcoin adoption, gold proponent Peter Schiff points out that gold prices are reaching new highs, drawing attention away from cryptocurrencies.