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Japanese lawmaker Satoshi Hamada has proposed that the government set up a national bitcoin reserve and convert part of its foreign exchange reserves into bitcoin, saying its decentralized nature is suitable as a strategic asset and mentioning similar actions being taken in the United States and Brazil. Although Hamada's party has limited seats, the proposal reflects the desire of some lawmakers to promote Japan as a blockchain hotspot through cryptocurrencies. The government will respond to this in a few weeks.