Bitcoin Once Lifts 3% to Top US$70,000; LegCo Member Says HK Govt Can Consider Including Bitcoin in Fiscal Reserve

　　US presidential candidate Donald Trump said at a Bitcoin conference that if he returns to the White House, he will fire US Securities and Exchange Commission (SEC) Chairman Gary Gensler, ensure that the federal government will not sell its Bitcoin holdings, and consider creating a “Bitcoin strategic reserve”.

　　Trump's positive comments about Bitcoin have continued to fester in the market, spurring Bitcoin to rise by more than 3% yesterday (29 July), and at one point surpassed the US$70,000 mark, hitting a nearly seven-week high. The six cryptocurrency spot ETFs in Hong Kong also followed suit, with all of them rising by more than 3% to 4%.

　　In a social media posting, Legislative Council member Johnny Ng Kit-chong said that there is growing global recognition of Bitcoin, which is regarded by the public as “digital gold” in the context of technology. He suggested that the Hong Kong government could indeed consider including Bitcoin in the strategic fiscal reserves in the future, subject to compliance with the law.

　　Ng said he would discuss the feasibility and opportunities of including Bitcoin in the fiscal reserves with different stakeholders in Hong Kong and report the situation to the public in due course.