Asian Bitcoin Advocates Push Japan to Get 167,000 BTC

Samson Mow, a well-known Bitcoin promoter in Asia and CEO of JA3, called on the Japanese government to purchase 167,000 Bitcoins.
Mow convinced Japan with a tweet at Sunday’s Bitcoin and Layer 2 conference, a conference hosted by Blockstream, Crypto Garage, and Fulgure Ventures to promote bitcoin adoption on a national level in Japan.
Notably, the meeting was attended by representatives from major Japanese banks, fintech companies, and regulators. At the conference, Mow discussed Bitcoin’s growth, scarcity, and fiscal implications.
Japan to explore Bitcoin amid endless love for hard assets
The Bitcoin advocate suggested that Japan’s boundless love for hard assets should drive the country’s adoption of the largest cryptocurrency. He said Japan could hold 167,000 bitcoins, proportional to its gold holdings.
It is worth mentioning that Japan is the world's eighth largest gold holder, with about 846 tons of gold. The Asian nation holds 5.1% of its foreign reserves in gold, 14 times less than the United States’ reserves of the precious metal.
Mow suggested that Japan should equalize its gold reserves with the best quality digital assets. He asserted that he believes this is likely to happen because "it makes sense for Japan to hold the hardest assets."
Mow continues to drive Bitcoin adoption
The Acqua Bitcoin developer has played a key role in the growing adoption of Bitcoin in Asia. His company JA3 is focused on driving hyperbitcoinization on a national level, fostering global advocacy for this premier asset.
Mow's latest effort is a meeting with Japan's Minister of State for Financial Services, Junichi Kanda. The closed meeting likely discussed Bitcoin adoption and the global implications of Republican nominee Donald Trump’s use of Bitcoin as a strategic reserve.
It is worth mentioning that while Japan does not officially hold Bitcoin, it is one of the countries that opened its borders to digital innovation in its early stages. Japan established clear rules for cryptocurrency exchanges in 2017 and approved a stablecoin framework in 2022.
However, the Asian country has recently implemented some regulations that enhance the growth of digital assets. Strict regulatory measures, such as high requirements for registration as a Crypto-Asset Exchange Service Provider (CAESP), have hampered the growth of the industry to a certain extent.
Bitcoin adoption is on the rise at the national level
Amid Japan’s lukewarm attitude toward cryptocurrencies, countries like El Salvador and Bhutan have embraced digital assets. Notably, their adoption of Bitcoin has had a significant financial impact on their economies, driving mass adoption of the asset.
In addition to using Bitcoin as legal tender, El Salvador has pledged to buy one Bitcoin per day until it can no longer pay with fiat currency. El Salvador has been implementing this strategy for 190 days and currently holds 5,881 Bitcoins (worth $373 million).
Additionally, Bhutan’s investment in Bitcoin mining has yielded significant returns. It recently became the second country to officially hold Bitcoin. Its reserves of 13,090 Bitcoins (worth $832 million) also make it the fourth-largest government entity holding the asset.
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