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After several years of hostility to Bitcoin, Tai -Wan seems to want to consider his opinion again due to his uncertain geopolitical situation.
In short
- Taiwanese Members call on the government to walk in the footsteps of the United States by adding bitcoins to their exchange reserves.
- Bitcoin would cover against the risk of the collapse of the Taiwanese dollar in the case of China’s embargo.
Bitcoin: Final value of refuge
The time-taiwanese relationship is an explosive geopolitical node. Beijing claims that the island as an integral part of its territory, while Taipei, supported by Washington, defends its autonomy and considers strategic investment in bitcoins.
As in Ukraine, the risk of war proxy is not impossible if commercial tension degenerates between Washington and Beijing. Such a conflict would endanger the global economy because the Taiwanese industrial flagship (TSMC) produces most semiconductors necessary for the high-tech industry.
China could easily order embargo and implement the overall blockade of Tai -wan. The country’s economy would immediately collapse, just like its currency. This would result in immediate hyperinflation.
That’s why the country has nearly $ 300 billion in reserve. No country has larger reserves of green tickets when it comes to the size of the population (tax havens aside). These reserves are a way to buy protection from the United States.
In addition to freezing Washington in the same time in the same period of 750 billion dollars that China holds in reserve. Russia knows something about it, because half of its reserves, especially the euro, is frozen.
Millions of Taiwans who will try to escape from the country will not be able to take anything with them. Will be destroyed. If you don’t have bitcoins. It’s easier to take a plane with regard to twelve words than with gold or dollars in possession. Bitcoin allows you to leave your country with all assets.
Taiwanese MPs recently confiscated an item and called Bitcoin ” Reserve value and refuge value ” ::
As a result of the United States
Taiwanese representative Ko Ju-Chun asked the government at the end of last week to add bitcoins to its exchange reserves.
“Bitcoin has been working for more than 15 years. His total offer is solid, decentralized and resistant to censorship. It cannot be subject to an embargo”said.
The representative relied on the recent creation of a strategic Bitcoin reserve by the United States government. “New Hampshire’s status just right that 5 % of public funds can be invest in bitcoins and soon 28 other countries can follow”, “, He added.
In addition, the former Taiwanese Prime Minister estimates ” Bitcoin is that it is not a currency, there is digital gold that allows you to protect themselves from inflation ”.
Huang Zácheng, President of the Association of Foreign Trade, thinks that “The decentralized nature of bitcoins made it possible to avoid cash risk in a geopolitically sensitive area like Tai -wan”.
We do not say that Bitcoin is the solution of everything. We recommend that you place a small part of our reserves in Bitcoins. As former Dean Chen Chong said, Bitcoin is the gold of a digital age.
Ko Ju-Chun, Taiwanese representative
At the end of the end, the whole world will follow if the United States produces bitcoins in reserve. Especially because Donald Trump aims to absorb a business deficit. The world will therefore have to find a new international reserve currency.
Bitcoin, updated, not -pre -premium and existing in finished quantities, can reduce the share of a lion in world reserves. In this respect do not miss our article: The US ready to leave the “exaggerated privilege” for bitcoins?
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Reports of bitcoins and geopolitics.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.