Key Points
- Johnny Ng, a Hong Kong politician, is considering the idea of a national Bitcoin reserve.
- Ng’s interest was sparked by Trump’s Bitcoin 2024 keynote speech outlining a plan for a U.S. Bitcoin reserve.
Johnny Ng, a political figure in Hong Kong, has shown interest in establishing a national Bitcoin reserve. This idea was influenced by the Bitcoin 2024 keynote speech by Trump, which proposed a similar plan for the United States.
Ng’s Views on Bitcoin and Web3
Ng, who is also a member of the Hong Kong Legislative Council, discussed Bitcoin and web3 on X on July 28. He underscored their importance and potential impact on the region.
Identifying himself as a web3 supporter, Ng suggested that Bitcoin should be considered as a financial reserve for nations and regions. He acknowledged the growing global acceptance of Bitcoin, referring to it as “digital gold”.
Push for Web3 Development in Hong Kong
Ng encouraged his fellow Hong Kong legislators to speed up the local development of the web3 industry. He suggested attracting more cryptocurrency businesses and skilled professionals to the city.
He ended his post on X by stating his intent to discuss the potential inclusion of Bitcoin in the city’s financial reserves with various stakeholders. He also promised to keep the public updated on these discussions.
Ng, who was elected in 2021, represents the newly formed Election Committee constituency in the Hong Kong Legislative Council.
At the Bitcoin 2024 conference on Saturday, former President Trump pledged to create a “strategic national Bitcoin stockpile” if he is elected in November. Following Trump’s speech, U.S. Senator Cynthia Lummis revealed new proposed legislation detailing a plan for this Bitcoin reserve.
