Japan will not create a bitcoin fund

The authorities of Japan do not intend to create a national reserve fund for bitcoins due to the high risks associated with investing in cryptocurrency. This was reported by Happy Coin News.

In mid-December, parliamentarian Satoshi Hamada proposed to include bitcoin in the list of currency reserves to start using cryptocurrency with budget funds. However, the country's Prime Minister Shigeru Ishiba opposed this, stating that BTC does not meet the definition of a "currency reserve" and does not help stabilize the market for foreign assets and bonds.

The government emphasized that the primary goal of creating currency reserves is to ensure the financial security of the state and enhance the liquidity of assets held in the treasury. Given the high volatility of the first cryptocurrency's exchange rate, acquiring it increases, rather than decreases, the risk of financial losses.

Previously, State Duma Deputy Anton Tkachev from the "New People" faction proposed to Finance Minister Anton Siluanov to create a strategic bitcoin reserve.