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Satoshi Hamada, a Japanese lawmaker, has proposed the inclusion of Bitcoin (BTC) in Japan’s foreign exchange reserves. During a parliamentary session on December 11, Hamada highlighted the growing global trend towards cryptocurrency adoption and suggested that Bitcoin could serve as a strategic hedge against economic instability. This comes at a time when nations like the US and Brazil are also exploring similar strategies.
The inquiry into Japan adopting Bitcoin reserves coincides with the cryptocurrency’s landmark surge, with Bitcoin prices topping $100,000. According to recent data from CryptoSlate, Bitcoin was trading at $101,351. Hamada emphasized the significant impact such a move could have on global markets and Japan’s financial stature.
With Japan currently trailing behind Germany as the world’s fourth-largest economy, proponents believe integrating Bitcoin could boost Japan’s economic flexibility. This move would also position Japan as a leader in digital asset innovation, mirroring crypto-positive shifts in other countries like the US and Russia.
