The Hong Kong Monetary Authority has pointed out that crypto assets are not the target assets for investment by the Exchange Fund
US presidential candidate Donald Trump has threatened to list bitcoin as a strategic reserve asset in the United States once he returns to the White House, and said that he will devise plans to ensure that the United States becomes the capital of cryptocurrency, which has stimulated the price of bitcoin to rise sharply. Ng Kit-chuang, a member of the Hong Kong Legislative Council, wrote that the global acceptance of bitcoin is increasing, and that the Hong Kong government can consider including bitcoin in the strategic fiscal reserve in the future subject to compliance. However, the HKMA immediately "dropped the gate", pointing out that the Exchange Fund invests in global multi-asset and market to diversify risks and enhance long-term returns, and that cryptoassets are not the target assets of the Exchange Fund's investment.
In addition, the Hong Kong government should not buy bitcoin because its value has been denied by many academics and officials, said Chong Tai-liang, executive director of the Institute for Global Economics and Finance at CUHK. If you take the lead in buying bitcoin, you may indirectly encourage citizens to buy such worthless things. The job of the Hong Kong government should be to provide a legal and safe platform for market transactions, not to buy bitcoin offside.