BITCOIN - Brazil: proposed Bitcoin strategic reserve to counter economic instability

On November 25, a bill was introduced in Brazil proposing the creation of the “Reserva Estratégica Soberana de Bitcoins” (RESBit), a national strategic reserve in bitcoin.

The proposal, presented by Deputy Eros Biondini, outlines the allocation of up to 5% of Brazil’s international reserves, currently estimated at around $372 billion, into bitcoin. The potential investment could reach $18.6 billion. The goal is to increase the country’s economic resilience in the face of currency fluctuations and geopolitical uncertainties.

The bill is part of an increasingly global context that is open to Bitcoin. Biondini cited examples such as Bitcoin’s adoption as legal tender in El Salvador and the approval of spot ETFs in the United States.

Several analysts have emphasized the significance of this move, describing it as part of a “national race” to acquire bitcoin.

The initiative further reinforces the view of Bitcoin as a strategic opportunity for managing national reserves.

https://atlas21.com/brazil-proposed-bitcoin-strategic-reserve-to-counter-economic-instability/