Hong Kong legislator Johnny Ng advocates for Bitcoin, web3 development

Hong Kong politician Johnny Ng expressed interest in the concept of a national Bitcoin reserve, following Trump’s Bitcoin 2024 keynote speech — which included a plan for a U.S. Bitcoin reserve.

In a post on X today, July 28, Ng, a member of the Hong Kong Legislative Council, offered his insights on Bitcoin (BTC) and web3, highlighting their significance and potential in the region.

Ng, a self-proclaimed web3 advocate, suggested that Bitcoin is “worth considering” as a financial reserve for nations and regions. He noted the increasing global acceptance of Bitcoin and its perception as “digital gold.”

The legislator also urged Hong Kong lawmakers to accelerate the development of the web3 industry locally by attracting more crypto businesses and talent to the city.

Ng closed his X post by stating that he would discuss the possibility of including Bitcoin in the city’s financial reserves with various stakeholders and keep the public informed.

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

On Saturday at the Bitcoin 2024 conference, former President Trump promised that, if elected in November, he would create a “strategic national Bitcoin stockpile.” U.S. Senator Cynthia Lummis then took the stage, following Trump, to reveal new proposed legislation detailing a plan for said Bitcoin reserve.