A Japanese parliamentarian is leading an ambitious campaign to establish a national Bitcoin reserve, positioning Japan at the forefront of cryptocurrency adoption among major economies.
Satoshi Hamada, a member of Japan's House of Councillors, has submitted over 200 proposals urging the government to convert part of its foreign exchange holdings into Bitcoin and other digital assets. His latest proposal was presented to the National Diet on December 11.
The lawmaker emphasizes Bitcoin's decentralized nature and neutrality as key advantages for cross-border trade, arguing that a strategic Bitcoin reserve would help Japan navigate an increasingly digital financial landscape while hedging against inflation.
"Bitcoin creates a fair financial environment independent of any single country's control," Hamada stated in the House of Councilors document.
The proposal comes amid growing global interest in national Bitcoin reserves. Several countries including Russia, Brazil, and Poland are actively discussing similar initiatives. In the United States, Trump has pledged to establish a Bitcoin reserve if re-elected, contributing to the cryptocurrency's recent price surge above $100,000.
While Hamada's party holds only two parliamentary seats, his vision may gain support from other pro-cryptocurrency legislators like Yuchiro Tamaki, who leads a party with stronger representation and advocates for crypto-friendly reforms.
Japan has historically taken a measured approach to cryptocurrency regulation. The country recently proposed lighter oversight for crypto intermediaries, suggesting a potential shift toward greater digital asset acceptance.
The outcome of Hamada's persistent campaign could influence other nations considering similar strategies, as governments worldwide evaluate Bitcoin's role in their financial portfolios.