Hong Kong legislator Johnny Ng advocates for Bitcoin, web3 development

Hong Kong politician Johnny Ng has expressed interest in the concept of a national Bitcoin reserve, after Trump’s Bitcoin 2024 keynote speech included a plan to establish a Bitcoin reserve in the United States.

Hong Kong Legislative Council member Ng shared his views on Bitcoin (BTC) and web3 in an article he shared on X today (July 28), emphasizing their importance and potential in the region.

Ng, who describes himself as a web3 advocate, suggested that Bitcoin is “worth considering” as a financial reserve for nations and regions, noting that Bitcoin is increasingly accepted globally and is perceived as “digital gold.”

The lawmaker also called on Hong Kong lawmakers to accelerate the development of the web3 sector locally by attracting more crypto companies and talent to the city.

Former US President Trump recently gave a speech at the US Bitcoin Summit, sharing his views on Bitcoin. Bitcoin and Web3 have already gained the attention and development of countries around the world, and Hong Kong is also actively… pic.twitter.com/e1UFCb6g1q

— Johnny Ng (@Johnny_nkc) July 28, 2024

Ng concluded his X-article by stating that he would discuss the possibility of including Bitcoin in the city’s financial reserves with various stakeholders and inform the public.

Elected in 2021, Ng is a member of the Legislative Council representing a newly created Electoral Committee district in Hong Kong.

At the Bitcoin 2024 conference on Saturday, former President Trump promised to create a “strategic national Bitcoin stockpile” if elected in November. US Senator Cynthia Lummis then took the stage after Trump to unveil a newly proposed bill detailing a plan for that Bitcoin reserve.