Hong Kong politician Johnny Ng has expressed interest in the idea of a national Bitcoin reserve, inspired by former President Donald Trump’s recent keynote speech at the Bitcoin 2024 conference, which proposed a similar concept for the United States.
In a post on social media platform X on July 28, Ng, a member of the Hong Kong Legislative Council, shared his thoughts on Bitcoin (BTC) and web3, underscoring their potential impact and importance in the region.
Ng, a vocal supporter of web3 technologies, suggested that Bitcoin could be considered a viable financial reserve for nations and regions, highlighting its growing global acceptance and reputation as “digital gold.”
He also called on Hong Kong lawmakers to expedite the development of the local web3 industry by attracting more cryptocurrency businesses and talent to the city.
Ng concluded his post by stating that he plans to discuss the inclusion of Bitcoin in Hong Kong’s financial reserves with various stakeholders and will keep the public updated on the progress.
Elected in 2021, Ng represents the newly established Election Committee constituency in Hong Kong’s Legislative Council.
At the Bitcoin 2024 conference on Saturday, former President Trump vowed to create a “strategic national Bitcoin stockpile” if he wins the presidential election in November. Following Trump, U.S. Senator Cynthia Lummis presented new proposed legislation outlining a plan for this national Bitcoin reserve.
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