Another Big Country Eyes the Creation of a National Bitcoin Reserve

An increasing number of countries are considering adding Bitcoin reserves to their financial strategies, following similar discussions emerging in the United States.

Brazil is taking steps to integrate cryptocurrency into its financial system, with federal deputy Eros Biondini proposing a bill to create a Sovereign Strategic Bitcoin Reserve (RESBit).

The initiative aims to diversify Brazil’s National Treasury assets, protect against currency risks, and support the adoption of blockchain and Drex, the country’s new digital currency.

The plan involves gradually acquiring Bitcoin, capped at 5% of international reserves, with funds managed using secure cold wallets. Spending would follow strict fiscal laws, with biannual reports submitted to the National Congress. Oversight would be handled by the Central Bank and Ministry of Finance, using blockchain and AI for transparency.

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Biondini highlighted the strategic importance of this proposal, framing it as a critical step in aligning Brazil with global innovation trends.

The legislation also seeks to educate citizens about cryptocurrencies, addressing the increasing recognition of digital assets as a legitimate investment class.

By adopting a forward-thinking approach, the bill aims to position Brazil as a leader in the digital economy, leveraging blockchain’s potential for public and private sector transformation.

Alexander Stefanov