Responding to former US President Trump's recent speech at the US Bitcoin Conference, Hong Kong councilor Johnny Ng advocated for Bitcoin to be included in strategic financial reserves and to accelerate the Web3 ecosystem in Hong Kong.
In his response, Ng drew attention to the global interest and development that Bitcoin and Web3 have received. He described these technologies as important milestones in the development of globalization and said that global cooperation is needed to promote their development.
Ng also touched on the possibility of Bitcoin becoming an official financial reserve for a country or region. As global adoption of Bitcoin is constantly increasing and the public views Bitcoin as “digital gold,” Ng believes its inclusion in strategic financial reserves is worth considering, provided it complies with regulations.
“Hong Kong should accelerate the development of the Web3 ecosystem,” said Ng, noting that Hong Kong is currently at the forefront of the region in terms of harmonious regulation and industry development.
Ng also said Hong Kong should create an ecosystem to attract globally competitive talent and capital, public chains and exchanges, businesses and projects.
Ng concluded his remarks by stating his intention to discuss the feasibility and opportunities of including Bitcoin in financial reserves with different parties in Hong Kong and promised to inform the public of the situation in a timely manner.
*This is not investment advice.