Brazilian Lawmaker Proposes A National Bitcoin Reserve

Brazilian Congressman Eros Biondini has proposed for the nation to create its own Bitcoin (BTC) reserve. Biondini’s bill proposes creating a “Reserva Estratégica Soberana de Bitcoins (RESBit)” with up to 5% of Brazil’s international reserve funds—currently amounting to about $372 billion. Bitcoin would be added to the reserve through a phased acquisition strategy. The proposed bill argues that a Bitcoin reserve could help make Brazil’s economy more resilient to currency fluctuations and geopolitical turmoil.

 

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