Hong Kong, one of the countries that made a name for itself by accepting Bitcoin and Ether spot ETFs in the world along with the USA, is also discussing whether Bitcoin can be added to reserve assets. The last call on the issue came from Johnny Ng, a member of the country’s Legislative Council (Legco), which is affiliated with China.

Johnny Ng evaluated Donald Trump’s speech at the Bitcoin Conference over the weekend on his X account and stated that Hong Kong should also consider Bitcoin’s move to join strategic reserve assets.

“Bitcoin use is increasing worldwide”

Stating that the largest cryptocurrency is being used more and more globally every day, Ng used the following statements in his long tweet:

“Former US President Donald Trump shared his ideas about Bitcoin at the Bitcoin Conference. Both Bitcoin and Web3 have started to attract the attention of many countries around the world. As Hong Kong, we support financial technology and have become a centre for it.

These two elements (Bitcoin and Web3) are important milestones in the development of globalisation. Blockchain technology has solved many financial problems in the world. Whether Bitcoin should be in the financial reserves of a country or not is worthy of discussion. The global use and acceptance of Bitcoin is growing. People see Bitcoin as digital gold. Therefore, adding Bitcoin to strategic reserve assets should be considered.

Hong Kong needs to accelerate the development of the Web3 ecosystem. Currently, Hong Kong is the region’s leader in terms of regulations and industry development. Therefore, we need to create an ecosystem that will attract globally competitive talent and capital to promote the development of the industry.

This is one of the important steps to do so. I will discuss the feasibility of including Bitcoin in the financial reserves with different stakeholders in Hong Kong and will regularly update you on developments in this regard.”