Wu Jiexhuang, a member of the Hong Kong Legislative Council and chairman of the Web3 Virtual Assets Development Subcommittee, said the city-state should analyze how to strengthen its financial security with BTC. In his opinion, the region should use the “one country, two systems” philosophy for this purpose and explore ways in which it can invest in BTC.
If major economic powers take the initiative to include bitcoin in their strategic reserves, the value of bitcoin will be more stable, which will cause more and more other countries to follow suit and reduce their holdings of traditional assets. This will depress the price of traditional assets and reduce the government’s fiscal reserves holding traditional assets
