At Taiwan’s National Conference on May 9, lawmaker Ko Ju-Chun urged the government to explore the idea of incorporating Bitcoin into the country’s official reserves, suggesting it could serve as a strategic safeguard amid global financial instability.
Ko, who serves as an at-large member of Taiwan’s Legislative Yuan, shared the proposal on X, emphasizing Bitcoin’s potential to function similarly to gold as a store of value during times of economic or geopolitical stress.
He argued that Taiwan, with its export-heavy economy and exposure to currency fluctuations — particularly with the New Taiwan dollar — could benefit from a diversified reserve portfolio that includes Bitcoin alongside existing holdings like gold and U.S. Treasury bonds.
“Our gold holdings currently total 423 metric tons, and foreign exchange reserves are around $577 billion,” Ko noted. “Yet, in the face of increasing inflation and geopolitical tension, especially in our region, our ability to maintain liquidity and financial security might be challenged.”
Citing Bitcoin’s decentralized nature, capped supply, and resistance to censorship, Ko suggested that it may offer protection in scenarios where traditional assets are vulnerable to sanctions or embargoes. His views appear to have been shaped in part by recent discussions with Samson Mow, a leading advocate for national-level Bitcoin adoption and founder of Jan3, a company supporting sovereign BTC strategies.
Though Ko doesn’t advocate for a Bitcoin-only approach, he supports its inclusion as a modest portion of Taiwan’s broader reserve strategy. In a May 6 post, he suggested that up to 5% of a $50 billion segment of reserves could be allocated to Bitcoin, enhancing the nation’s ability to hedge against macroeconomic and currency risks.
He framed his position with a quote from former Dean Chen Chong:
“Bitcoin is the gun of the digital age. It could also be its gold, silver, or even its gunpowder. A smart nation ensures such tools are in its own hands—not left to others.”
As Taiwan gradually embraces crypto innovation—with the Financial Supervisory Commission preparing institutional trials for crypto custody later in 2024—Ko’s proposal reflects a growing openness within the country’s leadership. Meanwhile, neighboring China continues to enforce a strict ban on most crypto-related activities since 2021.
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