香港立法會議員吳傑莊建議將比特幣納入財政儲備

政治家兼企業家、香港立法會議員和全國政協委員吳介壯呼籲將比特幣納入香港的財政儲備。

A member of the Hong Kong Legislative Council has called for the inclusion of Bitcoin in the city’s fiscal reserves.

香港立法會的一名議員呼籲將比特幣納入香港的財政儲備。

Lawmaker Wu Jiezhuang made the proposal during an interview with pro-Beijing newspaper Wen Wei Po, which was established in Hong Kong on September 9, 1948.

立法會議員吳介莊在接受1948年9月9日在香港成立的親北京報紙《文匯報》採訪時提出了這項建議。

Wu's remarks, featured in a special topic piece dated December 30, highlighted that “including Bitcoin in the national financial reserves is not a new idea,” emphasizing the fact that a number of smaller countries have already adopted BTC as a legal currency. Wu further pointed out: “Some states in the USA have also legislated that 10% of their reserves be in Bitcoin, allowing for more diversified asset allocation.”

吳的言論在 12 月 30 日的專題文章中強調，“將比特幣納入國家金融儲備並不是一個新想法”，並強調了一些較小國家已經採用比特幣作為法定貨幣的事實。吳進一步指出：“美國一些州還立法規定10%的儲備是比特幣，允許資產配置更加多元化。”

He added that if US President-elect Donald Trump were to “aggressively promote the inclusion of Bitcoin into government strategic reserves,” it would have a global impact, especially on traditional reserve assets. Wu used this context to urge the Hong Kong Special Administrative Region (SAR) government to consider whether to “incorporate digital assets and cryptocurrencies into financial reserves,” including the possibility of using the Exchange Fund for continual BTC purchases over the long term.

他補充說，如果美國當選總統唐納德·川普“積極推動將比特幣納入政府戰略儲備”，這將產生全球影響，特別是對傳統儲備資產。吳先生利用這一背景敦促香港特別行政區（特區）政府考慮是否“將數位資產和加密貨幣納入金融儲備”，包括長期使用外匯基金持續購買比特幣的可能性。

In response to these calls, the SAR Government’s Treasury Bureau confirmed that Hong Kong’s foreign exchange fund invests in a “globally diversified asset class and markets to spread risk and enhance long-term returns.” While cryptocurrency is not formally designated as a target investment for the foreign exchange fund, the Bureau acknowledged that “externally hired investment managers also invest in globally diversified asset classes and markets,” allowing for potential—though minimal—cryptocurrency-related investments.

針對這些呼籲，特區政府庫務局證實，香港外匯基金投資於「全球多元化的資產類別和市場，以分散風險並提高長期回報」。雖然加密貨幣並未被正式指定為外匯基金的目標投資，但該局承認，“外部聘請的投資經理也投資於全球多元化的資產類別和市場”，從而允許潛在的（儘管是最小的）加密貨幣相關投資。

Regarding financial security, the Bureau reiterated Hong Kong’s stance of regulating the crypto market based on the principle of “same business, same risk, same rules.” This approach aims to mitigate risks and ensure that financial security is maintained, while the government continues “to improve the regulatory system and launch measures to promote the development of the local virtual asset market.”

在金融安全方面，該局重申了香港基於「相同業務、相同風險、相同規則」的原則監管加密貨幣市場的立場。此舉旨在降低風險並確保金融安全，同時政府繼續「改善監管體系並採取措施促進當地虛擬資產市場的發展」。

Wu Jiezhuang expressed concerns about the broader ramifications if the United States were to recognize BTC as a strategic reserve asset. He suggested that such a move could destabilize traditional assets: “If economic powerhouses actively incorporate Bitcoin into strategic reserves, its value will stabilize, prompting more countries to follow suit and reduce holdings in traditional assets, causing traditional asset prices to fall and shrinking government financial reserves.”

吳介壯對美國承認比特幣作為戰略儲備資產會產生更廣泛的影響表示擔憂。他認為，此舉可能會破壞傳統資產的穩定：「如果經濟強國積極將比特幣納入戰略儲備，其價值就會穩定，促使更多國家效仿，減少傳統資產持有，導致傳統資產價格下跌，政府財政萎縮。”

Wu posited that BTC might eventually replace “precious metals with low practical utility, including gold and silver,” due to its lower storage and transport costs. While mentioning that Bitcoin itself lacks physical utility, he argued that the cryptocurrency’s ease of transfer and storage gives it an edge in market trade-offs, especially compared to gold’s substantial storage and logistics expenses.

吳認為，由於儲存和運輸成本較低，比特幣最終可能取代「實用性較低的貴金屬，包括黃金和白銀」。在提到比特幣本身缺乏物理效用的同時，他認為加密貨幣易於轉移和儲存的特性使其在市場權衡中具有優勢，特別是與黃金的大量儲存和物流費用相比。

Wu underscored Bitcoin’s expanding market presence, referencing the fact that 12 Bitcoin- and Ethereum-linked ETFs are currently traded on the Hong Kong Stock Exchange, while the Hong Kong Securities Regulatory Commission has issued 7 trading platform licenses. This growth stands in stark contrast to a decade ago, when only a small cohort believed in Bitcoin’s potential. However, Wu also noted that “price volatility and a relatively small market value” constitute weaknesses: “With each Bitcoin valued at $100,000, Bitcoin’s total market value is about $2 trillion, far from the global gold value of about $20 trillion.”

吳強調了比特幣不斷擴大的市場影響力，他提到目前有 12 隻與比特幣和以太坊相關的 ETF 在香港證券交易所交易，而香港證監會已頒發了 7 個交易平台牌照。這種成長與十年前形成鮮明對比，當時只有一小部分人相信比特幣的潛力。不過，吳也指出，「價格波動和相對較小的市值」構成了弱點：「如果每個比特幣價值10萬美元，比特幣的總市值約為2兆美元，與全球約20兆美元的黃金價值相去甚遠。

He further explained that Bitcoin is “not without risk,” citing both its dramatic price fluctuations and the opaque identities behind wallet addresses. Consequently, Wu advises governments and enterprises to maintain a cautious approach, allocating only a minimal portion of Bitcoin “as fiscal assets” to balance risk and return.

他進一步解釋說，比特幣“並非沒有風險”，理由是其劇烈的價格波動和錢包地址背後的不透明身份。因此，吳建議政府和企業保持謹慎態度，只配置極小部分比特幣“作為財政資產”，以平衡風險和回報。

Notably, already in July this year, another Hong Kong Legislative Council member, Johnny Ng, announced plans to assess the inclusion of Bitcoin into the special administrative region’s financial reserves.

值得注意的是，今年 7 月，另一位香港立法會議員吳約翰 (Johnny Ng) 宣布計劃評估將比特幣納入特別行政區的金融儲備。

At press time, BTC traded at $93,778.

截至發稿時，BTC 交易價格為 93,778 美元。