Taiwan Official Proposes Bitcoin As Part Of National Reserve Strategy

A Taiwanese politician is advocating for the inclusion of Bitcoin in Taiwan's national reserve assets. He believes Bitcoin can provide resilience against global economic fluctuations. Ju-Chun suggests allocating a small portion of reserves to Bitcoin, alongside gold and foreign currency. He recently consulted with Samson Mow, CEO of Jan3, about Bitcoin adoption strategies. Mow emphasized the increasing volatility of fiat currencies and the need for Bitcoin reserves. Taiwan currently holds substantial gold and foreign exchange reserves, but the New Taiwan Dollar has experienced volatility. Ju-Chun argues Bitcoin has proven resilient and accessible during times of crisis. He proposes investing up to 5% of a $50 billion reserve, approximately $2.5 billion, in Bitcoin. While some experts express concerns about Bitcoin's volatility and legal hurdles, Ju-Chun believes these issues can be managed. He urges lawmakers to explore secure methods for central banks to acquire, hold, and insure Bitcoin.