Japanese Senator Satoshi Hamada Submits Formal Proposal to Establish a Strategic Bitcoin (BTC) Reserve

In a bold move toward integrating cryptocurrency into national policy, Japanese Senator Satoshi Hamada has submitted a formal proposal urging the government to establish a strategic bitcoin (BTC) reserve.

Japanese Senator Satoshi Hamada has submitted a formal proposal urging the government to establish a strategic bitcoin (BTC) reserve.

The request, which was officially registered in Japan’s Upper House of Parliament on Monday, advocates for converting part of the nation’s vast foreign exchange reserves into bitcoin and other virtual currencies.

Hamada’s proposal, titled “Letter of Intent on the State of Understanding of the Bitcoin Reserve Movement Promoted by the United States and Other Countries,” underscores the growing global interest in bitcoin as a treasury asset.

The senator highlighted bitcoin’s decentralized and neutral qualities, describing it as an asset that is less influenced by specific nations or institutions, thus making it a resilient and reliable economic tool.

This call to action aligns with a broader trend, as nations and corporations around the world are exploring bitcoin treasuries to diversify their reserves.

The United States, for instance, has drawn attention for its discussions around adopting bitcoin as part of its economic strategy, spurred by promises from President-elect Donald Trump.

In Japan, the interest in bitcoin is also evident in the private sector. A prime example is Metaplanet Inc., a Japanese company that saw its stock value surge by 1,700% in a single year due to its investment in bitcoin. Hamada cited such cases to illustrate the potential benefits of incorporating bitcoin into national reserves.

The Japanese government is expected to issue a formal response to the proposal in the coming weeks, with the reply likely to be published on its official website.

How Japan addresses Hamada's initiative could influence other nations, given Japan’s reputation for technological innovation and its leadership in adopting financial technologies.