It is said that the Japanese government Not ready To adopt the idea of ​​adopting Bitcoin as a reserve currency.

Satoshi Hamada, a current member of the House of Advisors, recently urged the Japanese government to follow the United States' example by purchasing Bitcoin with a portion of foreign exchange reserves.

However, Prime Minister Shigeru Ishiba clarified that the government does not actually have any detailed knowledge of such moves by the US government.

At this point, the Japanese government is not ready to provide a definitive answer regarding its willingness to consider adopting Bitcoin as a treasury reserve currency.

The government also made it clear that it is focusing on ensuring the safety and liquidity of foreign exchange reserves.

Although Bitcoin has made significant progress in terms of institutional adoption, it remains a relatively volatile asset.

The idea of ​​the US government creating a Bitcoin reserve gained significant momentum earlier this year due to a bill introduced by Senator Cynthia Lummis of Wyoming.

Some critics, such as Tom Lee of Fundstrat, believe that creating a Bitcoin reserve could help the government offset debt.

MicroStrategy's Michael Saylor also argued that the reserve could be useful from a geopolitical perspective if the US government chose to sell gold in favor of Bitcoin, thus demonetizing Bitcoin.

Earlier this year, Anthony Scaramucci, founder of SkyBridge Capital, predicted that the US creation of a Bitcoin reserve would force other central banks to do the same.

However, there are also many critics of this idea. “Bitcoin’s strategic reserve is a transfer of wealth from the US government to bitcoin holders. These are the priorities of beneficiaries, not entrepreneurs,” said Miles Jennings of a16 Crypto.