In a notable development for the cryptocurrency landscape, Japanese Member of Parliament Satoshi Hamada has urged his government to establish a Strategic Bitcoin Reserve, aligning Japan with a growing global trend where nations like the United States are exploring similar initiatives.
Bitcoin Adoption Surges Among Nations And Major Corporations
Hamada’s proposal reflects a broader interest in diversifying national reserves with cryptocurrencies, particularly following recent discussions in the Japanese parliament about reserve movements in the US and other countries.
This surge in interest comes on the heels of Texas’s significant legislative efforts. The Texas House of Representatives has introduced a bill aimed at creating a strategic Bitcoin reserve, spearheaded by Republican state Representative Giovanni Capriglione.
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The proposed legislation seeks to enable the state to accept taxes, fees, and donations in Bitcoin, with a commitment to hold these assets for a minimum of five years.
Capriglione, who announced the bill during an X Spaces event, emphasized the potential benefits of such a reserve in enhancing Texas’s fiscal stability and reinforcing its leadership in Bitcoin innovation.
“Probably the biggest enemy of our investments is inflation,” he stated, highlighting that a strategic Bitcoin reserve could provide a win-win scenario for the state.
The legislation, titled “An Act Relating to the Establishment of a Bitcoin Reserve within the State Treasury of Texas and the Management of Cryptocurrencies by Governmental Entities,” underscores a significant trend of increasing institutional interest in Bitcoin as a strategic reserve asset.
Notably, this movement is not limited to nations; following President-elect Donald Trump’s proposal for a US strategic Bitcoin reserve at the National Bitcoin Conference in Nashville earlier this year, there has been a marked uptick in BTC adoption among various countries and private companies.
Bitcoinist previously reported that in just the past month, nine major firms from sectors including finance, healthcare, and artificial intelligence (AI) have embraced the market’s leading cryptocurrency as a strategic reserve asset.
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As these developments unfold, BTC has recently closed the week above the $100,000 mark, fueling speculation…
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