Fang Hongjin, co-chairman of the Hong Kong Blockchain Association: It is recommended that the Hong Kong Foreign Exchange Fund continue to purchase an

Odaily News Fang Hongjin, co-chairman of the Hong Kong Blockchain Association, said that it is recommended that the Hong Kong governments foreign exchange fund continue to purchase and hold Bitcoin for a long time. Given the expectation of long-term appreciation of Bitcoin, it can become the ballast stone of the Hong Kong foreign exchange fund, which can bring the following benefits to Hong Kongs financial stability and industrial development: 1. Increase the diversification of foreign exchange fund assets, enhance the inflation resistance of foreign exchange fund assets, and increase the expectation of long-term stable appreciation of foreign exchange assets; 2. Get rid of the dependence on single US dollar assets and enhance the autonomy of Hong Kongs financial policies; 3. Buy Bitcoin as soon as possible to lay the foundation for Bitcoin holdings and strive for the right to speak in the international Bitcoin market; 4. Give full play to the pledge financing characteristics of Bitcoin to facilitate short-term pledge financing of US dollars to fight against international hot money attacks on Hong Kongs linked exchange rate; 5. Lay a financial credit guarantee for Hong Kong to become the international Web3 capital. Given that Bitcoin is digital gold and is increasingly accepted by the international traditional financial industry, the central banks of some countries will adopt Bitcoin as a reserve asset configuration. (Techub)