Catenaa, Friday, November 29, 2024-Brazilian Congressman Eros Biondini has introduced a proposal to establish a national Bitcoin reserve, called the Bitcoin Sovereign Strategic Reserve (RESBit).
Filed on November 25, the bill aims to diversify Brazil’s Treasury and position the nation as a global leader in the digital economy. The proposed reserve would be gradually built, with Bitcoin constituting up to 5% of the country’s national reserves, managed by the Central Bank of Brazil.
Biondini emphasized that the creation of RESBit is essential for ensuring Brazil’s economic sovereignty and aligning with global trends in digital finance.
The reserve would be stored securely in cold wallets, with biannual reports outlining its movements. This initiative mirrors similar proposals in other countries, including the U.S., which is contemplating the creation of a national Bitcoin reserve by 2025.
Brazil is not alone in considering Bitcoin adoption. In Latin America, Argentina and Suriname are moving towards integrating cryptocurrencies into their economies, while Morocco is preparing to regulate digital assets.
The growing interest in Bitcoin is part of a broader global movement, with countries like Romania exploring blockchain technology in governance, as evidenced by its recent presidential election.
While cryptocurrency adoption gains traction, proposals such as Brazil’s may face political challenges, reflecting resistance seen in Europe and other regions. However, as digital assets grow in popularity, their potential to influence global markets and economies continues to expand.
