Goh Sze Kee slams independent candidate’s Bitcoin plan, says PAP “doesn’t believe in gambling”
The People’s Action Party (PAP) Mountbatten SMC candidate Gho Sze Kee didn’t mince her words on Wednesday (30 Apr) when addressing her opponent Jeremy Tan’s controversial proposal to invest government funds in Bitcoin.
Speaking at the Home of Athletics at Stadium Boulevard, the maritime lawyer took aim at Mr Tan’s ideas, calling Bitcoin a “wildly volatile” asset and declaring:
This is what I call gambling. The PAP does not believe in gambling!
Bitcoin value can plunge with nothing to back it up: Gho Sze Kee
Ms Gho criticised Tan’s idea to give every newborn a government-funded Bitcoin account worth S$10,000, warning that the digital currency isn’t backed by any tangible asset or governing body.
Source: Kristina Paukshtite on Pexels, for illustration purposes only
She said that Bitcoin’s value can plunge in an instant, with nothing to back it up.
“Should this money drop from the sky? Some of the ideas are simply not practical.”
She went on to question the logic of promoting early retirement and cryptocurrency investing when Mr Tan himself admitted he made his fortune through a traditional brick-and-mortar distribution business.
“Why is he recommending Bitcoin and early retirement when he made his money from a bricks-and-mortar distribution business?” she asked.
“Walk the talk.”
Residents reject Bitcoin idea during walkabouts, says Gho
According to Ms Gho, Mountbatten residents aren’t buying what Mr Tan was selling.
Source: Gho Sze Kee 吴诗琪 on Facebook
She claimed many residents she spoke to during her walkabouts were unimpressed by his flashy ideas and questioned his motivations.
“We do not run a country based on flashy sound bites,” she said. “I will leave it to the residents to question his motivations.”
She urged voters to distinguish the difference between ideas and suggestions with actual policymaking.
A long-time PAP activist since 2012, MS Gho has served as the Bukit Timah branch secretary since 2020. Over the past 10 months, she has conducted regular walkabouts in Mountbatten alongside outgoing MP Lim Biow Chuan.
She also pointed to tangible improvements made in the estate, including:
- Constituency sports club
- Career help
- Mental health support
- More childcare slots
- Connectivity improvements
- New dog runs
“I am not a slick talker,” she said, in a clear jab at her rival.
Jeremy Tan reacts with a laugh
The video of Ms Gho’s speech has since been uploaded on Channel NewsAsia (CNA)’s Facebook page, catching the attention of Mr Tan himself.
Source: Jeremytan.sg
The independent candidate simply replied, “Ok, haha.”
Source: CNA on Facebook
In a separate interview, Mr Tan elaborated that his wealth came from Unilever acquiring a brand from his skincare distribution business, and that he has been investing in Bitcoin for over a decade.
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Featured image adapted from Lianhe Zaobao and jeremytan.sg.
