TechFlow news, according to TECHUB NEWS, Fang Hongjin, co-chairman of the Hong Kong Blockchain Association, recently suggested that the Hong Kong government's Exchange Fund gradually purchase and hold bitcoin in the long term to enhance Hong Kong's financial stability and autonomy.
Fang Hongjin believes that the expectation of bitcoin's long-term appreciation could serve as a stabilizing anchor for Hong Kong's Exchange Fund, bringing benefits such as diversification, inflation resistance, and long-term stable value growth.
Currently, the total market capitalization of globally circulating gold is approximately USD 12 trillion, while bitcoin's total market cap stands at around USD 1.4 trillion—still 8.6 times smaller.
If bitcoin's market capitalization reaches that of gold, the price of a single bitcoin would surge from the current USD 68,000 to nearly USD 600,000. The Hong Kong Exchange Fund has total assets of HKD 4,017.8 billion, primarily invested in U.S. Treasury bonds and Hong Kong equities.
