National Bitcoin Reserve Initiative: MP Satoshi Hamada Urges Japan To Take Action
December 14 2024 - 9:30PM
NEWSBTC
In a notable development for the cryptocurrency landscape, Japanese
Member of Parliament Satoshi Hamada has urged his government to
establish a Strategic Bitcoin Reserve, aligning Japan with a
growing global trend where nations like the United States are
exploring similar initiatives. Bitcoin Adoption Surges Among
Nations And Major Corporations Hamada’s proposal reflects a broader
interest in diversifying national reserves with cryptocurrencies,
particularly following recent discussions in the Japanese
parliament about reserve movements in the US and other countries.
This surge in interest comes on the heels of Texas’s significant
legislative efforts. The Texas House of Representatives has
introduced a bill aimed at creating a strategic Bitcoin reserve,
spearheaded by Republican state Representative Giovanni
Capriglione. Related Reading: Australia’s Biggest Pension
Fund Makes Historic $17M Bitcoin Investment, A National First The
proposed legislation seeks to enable the state to accept taxes,
fees, and donations in Bitcoin, with a commitment to hold these
assets for a minimum of five years. Capriglione, who
announced the bill during an X Spaces event, emphasized the
potential benefits of such a reserve in enhancing Texas’s fiscal
stability and reinforcing its leadership in Bitcoin
innovation. “Probably the biggest enemy of our investments is
inflation,” he stated, highlighting that a strategic Bitcoin
reserve could provide a win-win scenario for the state. The
legislation, titled “An Act Relating to the Establishment of a
Bitcoin Reserve within the State Treasury of Texas and the
Management of Cryptocurrencies by Governmental Entities,”
underscores a significant trend of increasing institutional
interest in Bitcoin as a strategic reserve asset. Notably,
this movement is not limited to nations; following President-elect
Donald Trump’s proposal for a US strategic Bitcoin reserve at the
National Bitcoin Conference in Nashville earlier this year, there
has been a marked uptick in BTC adoption among various countries
and private companies. Bitcoinist previously reported that in
just the past month, nine major firms from sectors including
finance, healthcare, and artificial intelligence (AI) have embraced
the market’s leading cryptocurrency as a strategic reserve asset.
October 2025 As Next Major BTC Market Top? As these developments
unfold, BTC has recently closed the week above the $100,000 mark,
fueling speculation about its future trajectory. Crypto
analyst Ali Martinez has pointed out that if Bitcoin adheres to
historical trends observed in previous market cycles, the next
market peak could occur in October 2025. The analyst noted
that in the last two cycles, from market bottom to market top, it
took approximately 1,065 days, while the duration from one market
bottom to the next was around 1,430 days. Related Reading: Dogecoin
Will See New ATH Soon – Top Trader Sets $2 Target Martinez also
identified a critical support level for Bitcoin at $96,870, where
approximately 1.45 million addresses accumulated around 1.42
million BTC. He stated that as long as this demand zone remains
intact, there is a strong likelihood that Bitcoin will continue its
upward momentum. At the time of writing, BTC is trading at
$101,477, up 2% on the week after a brief consolidation period and
a 7% drop towards $91,000. Featured image from DALL-E, chart from
TradingView.com
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