Taiwan is considering a potential Bitcoin reserve strategy

Taiwan is moving towards a #Bitcoin Strategy. https://t.co/lbNwprhfT0

Taiwan is exploring the possibility of adding Bitcoin (BTC) to its financial reserves, a move that could have implications for the cryptocurrency landscape and broader macroeconomic trends.

The interest in Bitcoin is evident in a recent X post by Samson Mow, CEO of JAN3, who met with Taiwanese legislator Ju-Chun Ko. During their meeting, they discussed the potential benefits of diversifying the nation’s reserve assets.

“It’s great to meet Ju-Chun Ko in Congress. We discussed the significance of Taiwan establishing a strategic reserve of Bitcoin, not only for national security but also for financial resilience,” Mow said.

Ko has been vocal in advocating for the inclusion of Bitcoin in Taiwan’s reserves. He urged the National Central Bank to examine the move, considering the recent exchange rate instability and technological disruptions in banking services.

“The New Taiwan Dollar has experienced significant fluctuations recently. From a daily appreciation of 5% to a daily depreciation of 5%. Many people are nervous. Even many small and medium-sized enterprises rely on exports to make a living. We overly rely solely on the so-called US dollar. We lack financial resilience. We should truly implement financial diversification. Even Bitcoin should be taken into consideration,” Ko said.

Ko also noted the efforts of several U.S. states to introduce legislation for state-level strategic Bitcoin reserves. He argued that such diversification could help Taiwan better manage currency valuations and reduce trade imbalances.

“Several U.S. states are now discussing legislation to create state-level strategic Bitcoin reserves. This move could help to diversify the country’s economic holdings and reduce its reliance on any one currency.”

Although no official policy change has been confirmed by the relevant institutions, Taiwan’s exploration of a Bitcoin reserve strategy is noteworthy. It may reflect broader concerns among policymakers about currency exposure and monetary sovereignty in a rapidly changing global economic landscape.