Brazil Congressman Proposes Creating a National Bitcoin Reserve
A congressman from Brazil has officially proposed a bill to establish a strategic Bitcoin reserve in the country: the Bitcoin Sovereign Strategic Reserve. The Reserva Estratégica Soberana de Bitcoins (RESBit) aims to diversify the country’s Treasury. According to Portal do Bitcoin, a Brazilian media platform, Congressman Eros Biondini filed the proposal on Monday. https://twitter.com/watcherguru/status/1861465673064411525?s=46 “The creation of RESBit is a strategic measure that positions Brazil as a leader in the new digital economy, reducing economic risks and expanding opportunities for technological and financial development,” wrote Biondini in the justification for the bill. “The approval of this project is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends.” As presented, the bill stipulates planned and gradual acquisitions of Bitcoin, up to 5% of Brazil’s national reserves. Biondini’s proposal would also...