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Bitcoin reserve news Brazil

Strategic Bitcoin Reserve Proposed by Brazil’s Vice Presidential Advisor

Jake Simmons
by Jake Simmons
5 months ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Brazil’s Vice President Geraldo Alckmin’s (PSB) chief of staff, Pedro Giocondo Guerra, underscored on Wednesday the importance of establishing a national strategic Bitcoin reserve. Guerra was speaking at the swearing-in ceremony of the new president of the FPBC (Parliamentary Front for Competitive Brazil), Deputy Júlio Lopes (PP-RJ), while representing the government of President Luiz Inácio Lula da Silva (PT).

“Rigorously debating the constitution of a sovereign reserve of bitcoin value is in the public interest and will be decisive for our prosperity. After all, Bitcoin is digital gold, the gold of the internet. It’s a technology that allows us to transmit wealth from one end of the planet to the other quickly and store the fruits of our labor efficiently and securely,” Guerra stated.

Will Brazil Get A Strategic Bitcoin Reserve?

His remarks highlighted Bitcoin’s intrinsic appeal—particularly its digital scarcity and deflationary design, in contrast to fiat currencies that can be printed at will. Guerra noted that an official BTC reserve might bolster the country’s resilience and adaptability, especially amid global economic and geopolitical fluctuations.

Related Reading: Philippines, Indonesia Tipped As Next Bitcoin Nation-States By Samson Mow

Notably, Congressman Eros Biondini (PL-MG) has introduced PL 4501/2024, which would permit the creation of a Sovereign Strategic Reserve of Bitcoins—referred to in the bill as RESBit. According to Biondini, the primary goal is to guard Brazil against currency fluctuations and geopolitical uncertainties by diversifying the government’s international reserves.

The text proposes a limit of 5% of the country’s international reserves—which totaled $366 billion in December—for Bitcoin acquisitions. Should it pass, Brazil would be authorized to invest as much as $18.3 billion in Bitcoin, based on the reserve’s valuation at the time the bill was drafted.

Currently under review by Rapporteur Luiz Gastão (PSD-CE) in the Lower House’s Economic Development Committee, the bill sets forth guidelines for gradual acquisition and emphasizes robust security measures, using cold wallets and advanced AI- and blockchain-based monitoring.

The legislation details how the Central Bank and the Ministry of Finance would jointly manage RESBit, ensuring transparency through regular biannual reports to both the public and Congress. In addition, the text addresses the need for educational and innovation programs, including specialized courses on blockchain, crypto-economics, and cybersecurity, as well as incentives like tax benefits for crypto-related startups.

Related Reading: Trump Endorses Pro-Bitcoin Senator Lummis: ‘Make US The Crypto Capital’

A technical advisory committee composed of experts in blockchain, digital economy, and cybersecurity would also be established to ensure rigorous oversight and to foster collaboration with international regulators and research institutions. The proposal cites global precedents, such as El Salvador’s adoption of Bitcoin as legal tender, the United States’ approval of BTC ETFs, China’s investment in blockchain and digital currency efforts, Dubai’s success in developing a blockchain-friendly business environment, and the EU’s regulatory framework for digital assets.

In its justification section, the bill argues that Brazil is already one of the countries with the highest rate of cryptocurrency adoption, yet government policy has not kept pace with the rapid evolution of this market.

According to the text, “The creation of RESBit will allow Brazil to diversify its international reserves, reducing exposure to foreign exchange fluctuations and geopolitical risks while increasing economic resilience. This measure will also position Brazil as a regional leader in financial and technological innovation, attracting external investment and strengthening our presence in the digital economy.”

At press time, BTC traded at $86,205.

Bitcoin price
BTC looses momentum, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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