Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Japan considers Bitcoin reserve and DOGE inspired policies

Japan considers Bitcoin reserve and DOGE inspired policies

GrafaGrafa2024/12/16 02:30
By:Mahathir Bayena

Japanese lawmaker Satoshi Yamada has called for the exploration of a Strategic Bitcoin Reserve (SBR) as part of efforts to strengthen Japan’s financial markets and its economic position.

On December 11, Yamada submitted a formal request to the Japanese government, urging it to analyse global Bitcoin (CRYPTO:BTC) reserve initiatives.

He also proposed the idea of converting part of Japan's foreign exchange reserves into Bitcoin or other cryptocurrencies, seeking the government's stance on such a move.

“I believe that consideration should be given to this matter, and I would like to hear the government’s views,” Yamada stated. “Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”

The global momentum for Bitcoin reserves has grown recently, especially after former U.S. President Donald Trump’s campaign pledge to create a national Bitcoin reserve.

Since Trump’s election, several U.S. states, including Pennsylvania and Texas, have introduced legislation to build their own Bitcoin reserves.

According to Dennis Porter, CEO of the Satoshi Action Fund, at least ten U.S. states are drafting similar bills, with more expected to follow soon.

“President Trump better have the Executive Order ready on day 1 for a ‘Strategic Bitcoin Reserve’,” Porter commented. “Otherwise, the states are ready to win the race.”

Beyond Bitcoin reserves, Yamada also expressed interest in the U.S. Department of Government Efficiency (D.O.G.E.), a government initiative launched under Trump’s administration.

At the time of reporting, the Bitcoin price was $105,470.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump administration walks back tariff ‘exemption’ on electronics

Trump says he’s “flexible” on electronic tariffs, and that more developments are “coming up”

Blockworks2025/04/14 23:45

Charles Hoskinson Weighs in: Is Bitcoin Surging to $250K?

Unpacking Charles Hoskinson's Bold Bitcoin Prediction in Light of Current Market Trends

Coineagle2025/04/14 23:44
Charles Hoskinson Weighs in: Is Bitcoin Surging to $250K?

Market Insights: Short-Term Recovery Signals for BONK, ALCH, and Bitcoin

In Brief Analyst Pseudonym identifies recovery signals in BONK, ALCH, and Bitcoin. Short-term trading strategies recommended for cautious positions. Increasing interest in meme tokens amid market volatility.

Cointurk2025/04/14 22:00
Market Insights: Short-Term Recovery Signals for BONK, ALCH, and Bitcoin

Ethereum Price Fluctuations Ignite Technical Analysis and Strategic Forecasts

In Brief Ethereum's price fluctuations shift focus to technical indicators among market players. Analysts signal potential recovery and long-term growth opportunities for Ethereum. Competition from networks like Solana raises challenges for Ethereum's market position.

Cointurk2025/04/14 22:00
Ethereum Price Fluctuations Ignite Technical Analysis and Strategic Forecasts