At the National Conference on Friday, a Taiwanese official made a strong appeal for the inclusion of Bitcoin in the nation’s reserve composition. He emphasized his call on a popular social media platform, stating that the incorporation of Bitcoin, along with gold and foreign currency, could potentially fortify Taiwan’s protection against drastic economic downturns.
Ju-Chun, the official in question, believes that Bitcoin could provide a sturdy buffer against significant fluctuations in the global economy. He conveyed to the conference attendees that introducing even a small proportion of Bitcoin into Taiwan’s financial assets could significantly enhance the resilience of the country’s economic structure.
He also reached out to cryptocurrency enthusiasts on social media, inviting them to engage with his proposal and provide feedback. He asserted that this measure would not replace current reserves but could serve to strengthen them.
Last week, Ju-Chun held a meeting with Samson Mow, CEO of Jan3, a company that advocates for widespread Bitcoin adoption. Following their discussion, Jan3 issued a statement underlining the necessity for countries to shield themselves from currency volatility by holding Bitcoin.
Mow discussed with Ju-Chun the increasing volatility of fiat currencies and talked about the technical, security, and risk management aspects of purchasing and holding Bitcoin.
At present, Taiwan’s reserves include 423 metric tons of gold and approximately $577 billion in foreign exchange assets. Ju-Chun pointed out that the New Taiwan Dollar has experienced significant fluctuations and attributed this instability to increasing global prices and regional tensions in East Asia.
Ju-Chun argued that Bitcoin has proven its ability to withstand external pressures and remain viable when other assets fail over the past 15 years. He believes this resilience makes Bitcoin a worthy addition to Taiwan’s national reserves.
He proposed that Taiwan invest up to 5% of a $50 billion reserve in Bitcoin, equivalent to about $2.5 billion. Ju-Chun referred to similar actions recently approved in New Hampshire and suggested by US President Donald Trump. He also noted that major economies like the UK and Japan are still hesitating while Taiwan has the opportunity to lead Asia in this initiative.
While some experts warn that Bitcoin’s value can fluctuate by 10 to 20% within a week, and others express concern over legal processes required for state-level digital asset holding, Ju-Chun insists these challenges can be managed. He urged lawmakers to explore how central banks could purchase, insure, and hold Bitcoin, and called for clear regulations to prevent any potential losses from affecting the wider economy.
