Bitcoin Adoption Heats Up as Hong Kong Legislator Proposes Incorporating BTC into National Reserves

Today in the world of cryptocurrency, several noteworthy developments have unfolded. In Hong Kong, a legislator has proposed incorporating Bitcoin into the region's national reserves as a means of enhancing financial security.

Hong Kong Legislator Proposes Adding Bitcoin to National Reserves

In a significant development, a Hong Kong legislator has proposed incorporating Bitcoin into the region's national reserves to bolster financial security. Wu Jiexhuang, a member of the Legislative Council, highlighted the potential benefits of utilizing China's "one country, two systems" policy to include Bitcoin in its strategic reserves. He cited the example of smaller nations like El Salvador and Bhutan, which have already taken similar steps, and noted that the United States, under President-elect Donald Trump's proposal, might consider Bitcoin a strategic reserve asset.

Cybersecurity Threat: Hackers Pose as Recruiters to Trick Victims

A new type of cybersecurity threat has emerged within the crypto sector, as hackers pose as recruiters offering high-paying jobs to trick victims into downloading malicious software. According to Blockchain analyst Taylor Monahan, these hackers instruct their targets to follow steps to address non-existent technical issues, ultimately injecting malware into their systems. This malware grants attackers backdoor access to victims' devices, potentially leading to substantial financial losses. The method reportedly affects various operating systems, including Mac, Windows, and Linux.

MicroStrategy Hints at Imminent Bitcoin Acquisition, Investors React

Technology firm MicroStrategy co-founder Michael Saylor has hinted at an imminent Bitcoin acquisition. The company recently purchased 5,200 Bitcoin at an average price of $106,000 per coin. MicroStrategy has scheduled a special shareholders meeting in December 2024 to discuss increasing its capital by raising the limit of Class A common stock and preferred stock to finance further Bitcoin acquisitions. This move has elicited mixed reactions from investors.