Johnny Ng, a member of Hong Kong’s Legislative Council, has announced plans to explore how Bitcoin might benefit Hong Kong’s economy, especially as a protection against inflation.

Ng recently shared his thoughts on X, emphasizing the importance of considering Bitcoin for strategic fiscal reserves. He believes that, with the right regulations, Bitcoin could strengthen Hong Kong’s financial system.

He pointed out that Bitcoin’s limited supply and independent nature make it a valuable asset, attracting investors globally. Including Bitcoin in financial reserves could modernize Hong Kong’s financial approach.

Ng also highlighted the necessity of careful research and regulatory compliance to safely integrate Bitcoin into Hong Kong’s financial reserves. He encourages the government to support technological innovation and create a favorable environment for Web3 development.

This proposal comes at a time when Hong Kong is making significant strides in digital finance and blockchain adoption, with an evolving regulatory framework aimed at balancing innovation and security.