Pro-crypto Hong Kong Legislative Council Member Johnny Ng has urged the special administrative region to “research and consider” the possibility of including Bitcoin in its strategic financial reserves.

This follows on from former President Donald Trump's speech at BTC 2024 in Nashville over the weekend.

NG said on X this week that “as long as it is compliant,” it was “worth considering” including the world’s largest crypto by market cap in a strategic financial reserve.

Indeed, the lawmaker indicated that including BTC could enhance Hong Kong's economic framework, provided it aligns with the appropriate regulatory conditions.

“The global acceptance of Bitcoin is constantly increasing, and Bitcoin is seen by the public as ‘digital gold’ in the context of its technology,” Ng commented.

He also pledged to begin discussions in Hong Kong with several stakeholders to “discuss the feasibility and opportunities of including Bitcoin in financial reserves with different stakeholders in Hong Kong.”

Ng's proposal followed former US President Donald Trump's speech at the Bitcoin 2024 conference over the weekend.

In his address, the US Republican Party presidential nominee stated that he would establish a “strategic Bitcoin stockpile” if he was re-elected in November.

His initiative is part of a larger effort to boost the development of the Web3 ecosystem in Hong Kong. 

This aligns with the city’s ongoing goal to position itself as a global crypto hub, in contrast to Mainland China's broader crackdown on crypto mining and trading.

Indeed, back in April, Hong Kong’s top securities regulator approved the trading of spot Bitcoin and Ether ETFs, positioning the city ahead of the United States in this regard.

NG added that Hong Kong “must accelerate the development of the Web3 ecosystem” by attracting “globally competitive talent and capital, public chains and exchanges, enterprises and projects.”