Hong Kong lawmaker Johnny Ng has proposed initiating discussions on incorporating Bitcoin into the region’s official financial reserves, following a speech by former U.S. President Donald Trump. Ng, a member of the Hong Kong Legislative Council, highlighted the growing global acceptance of Bitcoin and its perception as “digital gold.” He believes it is worth researching the feasibility of including Bitcoin in Hong Kong’s financial reserves, provided it meets compliance standards. Ng’s suggestion aims to explore Bitcoin’s potential strategic value for the region’s financial stability.

Ng’s comments were influenced by Trump’s recent promise at the Bitcoin 2024 conference to create a “strategic bitcoin reserve” if re-elected. Ng plans to engage with various stakeholders in Hong Kong to assess the opportunities and challenges of this initiative. Unlike mainland China’s restrictive stance on cryptocurrency, Hong Kong has embraced the crypto industry, introducing a licensing regime for crypto trading platforms in June 2023. This progressive approach has made Hong Kong a welcoming environment for crypto firms and could pave the way for innovative financial strategies like the inclusion of Bitcoin in reserves.