Brazil Considers Strategic Bitcoin Reserve

Brazil’s Congress is considering a proposal to create a strategic Bitcoin reserve. Federal Deputy Eros Biondini introduced legislation that would allow up to 5% of Brazil’s $344 billion international reserves to be allocated to Bitcoin.

Last week, the Chamber of Deputies held a hearing on the matter. The proposal includes measures for cold storage of the cryptocurrency and requires semiannual reporting to Congress.

Biondini argued that the initiative would diversify the country’s reserves, reduce currency and geopolitical risks, and position Brazil as a leader in digital assets. The measure is inspired by similar initiatives in the United States and other countries.

During the hearing, several government members and the Economic Development Committee expressed support, including Deputy Luiz Philippe de Orleans e Braganca. The bill has been sent for further technical review in committee before a potential vote in the full chamber. While the hearing did not reach consensus, the initiative remains on the legislative agenda.