Republican

Satoshi

Bitcoin

Elon Musk

A lawmaker in Japan’s legislature named Satoshi Hamada has introduced questions for the government on the status of national Bitcoin reserves globally.
In a question submitted to the country’s House of Councillors on Dec. 11, Hamada <a data-ct-non-breakable="null" href="https://www.sangiin.go.jp/japanese/joho1/kousei/syuisyo/216/meisai/m216022.htm" rel="null" target="null" text="null" title="null">asked</a> the Japanese government to consider “the status of understanding the movement to introduce Bitcoin reserves in the United States and other countries.” 
The lawmaker’s questions directly <a data-ct-non-breakable="null" href="https://x.com/yukarimurakami5/status/1866758512476557537" rel="null" target="null" text="null" title="null">cited</a> attempts by US government officials and crypto proponents to introduce a strategic Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) reserve in the country, claiming that such a move could add a “tremendous amount of power” to the markets.
“I believe that consideration should be given to this matter, and I would like to hear the government’s views,” said Hamada in a translated statement. “Should Japan also introduce a system to convert part of its foreign exchange reserves into crypto assets such as Bitcoin?”
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 <img alt="Japan, Law, Government" src="https://s3.cointelegraph.com/uploads/2024-12/0193cc6e-7eb0-793c-ae15-4e0afbf49e08" title="">
 <figcaption style="text-align: center;">
 Satoshi Hamada’s questions to Japanese lawmakers about Bitcoin reserves. Source: <a data-ct-non-breakable="null" href="https://x.com/yukarimurakami5/status/1866758512476557537" rel="null" target="null" text="null" title="https://x.com/yukarimurakami5/status/1866758512476557537">Yukari Murakami</a>
 </figcaption>
</figure>
<h2 id="inspired-by-efforts-in-the-united-states">Inspired by efforts in the United States? </h2>
In the wake of the US elections in which Republican lawmakers won a trifecta in the presidency, House of Representatives, and Senate, crypto advocates seem to be pushing harder for the government to consider a strategic Bitcoin reserve — also one of Donald Trump’s campaign promises. Lawmakers in Brazil have <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/brazil-congress-consider-bitcoin-reserve-hedge-against-global-risks" rel="null" target="null" text="null" title="null">issued similar calls</a> to use the cryptocurrency as a hedge against economic risks.
According to his social media activity on X, Yamada has been closely following efforts in the US to introduce a strategic BTC reserve. He has <a data-ct-non-breakable="null" href="https://x.com/satoshi_hamada/status/1867505239810879883" rel="null" target="null" text="null" title="https://x.com/satoshi_hamada/status/1867505239810879883">retweeted</a> posts from the American political action committee created by Elon Musk about the Tesla CEO’s proposed Department of Government Efficiency — which would likely be an advisory committee, not a government department.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/texas-lawmaker-legislation-strategic-bitcoin-reserve" rel="null" target="null" text="null" title="null">Texas lawmaker proposes bill to establish strategic Bitcoin reserve</a>
Though Japan has one of the largest gross domestic products (GDPs) in the world, the country dropped from third to fourth place in 2023, losing its position to Germany amid a slowing economy. Most estimates place Japan’s GDP at more than $4 trillion, suggesting that if its government were to establish a national BTC reserve, it could benefit crypto holders.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-city-guide-osaka-japan/" rel="null" target="null" text="null" title="null">Crypto City: Guide to Osaka, Japan’s second-biggest city</a>

Japanese lawmaker ‘Satoshi’ questions gov’t plans for Bitcoin reserve

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