Japan has become the latest country to face calls to explore the feasibility of establishing a Strategic Bitcoin Reserve (SBR).
The proposal comes as global interest in Bitcoin reserves is strong, especially after Donald Trump won the US election.
Japan Called to Explore Bitcoin Reserves and DOGE Potential
December 11, Japanese congressman Satoshi Yamada submitted an official question to the Japanese government, emphasizing the need to analyze global initiatives focused on Bitcoin reserves. He pointed out that adopting this initiative could improve Japan’s financial market and strengthen its economic position.
Yamada also raised the possibility of converting part of Japan’s foreign currency reserves into cryptocurrencies such as Bitcoin and asked for clarification on the government’s position on this issue.
“I believe this issue needs to be considered, and look forward to hearing the government’s views. Should Japan also introduce a system to convert part of its foreign currency reserves into crypto assets such as Bitcoin?,” MP ask questions.
Over the past month, efforts to establish Bitcoin reserves have increased globally since Trump pledged during his election campaign to create national Bitcoin reserves.
Following his election, many states in the US, including Pennsylvania and Texas, initiated laws to build strategic Bitcoin reserves. Mr. Dennis Porter, CEO of Satoshi Action Fund, said at least 10 states are actively drafting similar bills and expect that many more states will follow.
“President Trump should have an Executive Order ready on day one for a ‘Strategic Bitcoin Reserve’. Otherwise, the states will be poised to win the race. Pennsylvania and Texas are leading the way. At least 10 states will introduce SBR bills. There are probably many other states,” Porter stated.
Not only focusing on Bitcoin reserves, Yamada also expressed interest in the newly established Department of Government Efficiency in the US (DOGE).
“I think this is a policy that Japan should pay attention to,” he stated.
The department, created under Trump’s “Save America” movement, aims to streamline federal functions, cut government spending and increase operational efficiency. Technology billionaire Elon Musk and biotech inventor Vivek Ramaswamy have been appointed to lead DOGE
Since taking office, both leaders have outlined strategies to reform government operations, focusing on reducing bureaucracy and enhancing economic freedom. Yamada suggested that Japan could take inspiration from this initiative when evaluating policies to promote economic growth and improve government efficiency.