Japan considers Bitcoin reserve and DOGE inspired policies
Full story: https://grafa.com/news/cryptocurrencies-japan-considers-bitcoin-reserve-and-doge-inspired-policies-332379
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.
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