Lucía Peña
Samson Mow, a prominent Bitcoin supporter and CEO of JAN3, has urged the Japanese government to purchase 167,000 BTC. His proposal followed a conference in Japan centered on Bitcoin and Layer 2 technologies, aimed at increasing governmental involvement in cryptocurrency adoption.
The event saw participation from key players in the financial sector, including representatives from major banks, fintech companies, and regulatory agencies. During the conference, Mow emphasized Bitcoin’s unique features, such as its limited supply and growth potential, likening it to Japan’s preference for stable assets like gold.
Samson Mow Encourages Japan to Invest in 167,000 BTC
Mow’s recommendation comes after reviewing Japan’s current gold reserves. He argued that just as gold plays a role in diversifying the nation’s wealth, Bitcoin could also serve as a hedge against economic instability. Japan’s 846 tons of gold make up only a small portion of its foreign reserves, and Mow suggests that adding Bitcoin to these holdings would enhance their resilience against market fluctuations. He underlined the similarity between gold’s finite availability and Bitcoin’s capped supply, calling Bitcoin the “strongest asset” available.
In a private meeting with Japan’s Minister of State for Financial Services, Junichi Kanda, Mow expanded on the strategic advantages of including Bitcoin in the country’s reserve assets.
Mow met with Parliamentary Vice-Minister Junichi Kanda to explore the potential of Bitcoin in Japan, discuss how other nations are adopting the cryptocurrency, and address the idea of the U.S. possibly establishing Bitcoin reserves.
Regulatory Issues and Economic Policy Changes
Despite these discussions, Japan has tightened its regulatory stance on cryptocurrencies, imposing rigorous compliance standards on companies operating in the space. These rules could deter new entrants into the Japanese crypto market.
At the same time, the Bank of Japan (BOJ) is expected to raise interest rates soon, aiming to stabilize the yen and curb inflation. However, this move could also impact the cryptocurrency market, as a stronger yen may make Bitcoin less appealing as an alternative investment, contrary to Mow’s proposal.
Bhutan’s Unexpected Entry into the Global Bitcoin Scene
In a surprising turn, Bhutan recently became the fourth-largest holder of Bitcoin among governments, with a portfolio valued at over $750 million. The country achieved this position through its investment in crypto mining, leveraging its abundant hydropower resources.
While Mow continues to advocate for Bitcoin, gold proponent Peter Schiff has noted that gold prices have hit a new peak. Schiff argues that the attention given to Bitcoin often overshadows the steady performance of traditional assets like gold.
