Hong Kong Legislative Council Member Wu Jiezhuang: Bitcoin can be included in the Hong Kong Exchange Fund assets on a trial basis

Wu Jiezhuang, a member of the Hong Kong Legislative Council and chairman of the Web3 Virtual Asset Development Subcommittee, said in an interview that Hong Kong needs to study how to maintain national financial security when the United States disrupts Bitcoin and affects the traditional asset market. He suggested that Hong Kong should make good use of the advantages of "one country, two systems" and try to include Bitcoin in the assets of the foreign exchange fund first, and explore ways to revitalize Bitcoin for the country. As for whether holding Bitcoin can help the SAR government fight the fiscal deficit, Wu Jiezhuang believes that although the government can use Bitcoin as a tool for asset appreciation, it will only have a significant effect if it is held in large quantities. At present, the government's fiscal deficit has exceeded 100 billion yuan, so only a small amount of holding will not help much in eliminating the deficit. The value preservation function of holding Bitcoin will be greater than the value-added function. (Hong Kong Wen Wei Po)