A Brazilian congressman has proposed the creation of a strategic sovereign Bitcoin reserve (RESBit) to strengthen economic stability and diversify financial assets.
The bill suggests gradually allocating up to 5% of Brazil’s $372 billion reserves to Bitcoin to mitigate currency volatility and geopolitical risks.
Inspired by Bitcoin’s adoption in El Salvador and recent U.S. regulatory moves, the proposal aligns with a growing global trend toward national cryptocurrency strategies.
Analysts highlight the initiative as part of a broader “nation-state race” for Bitcoin adoption, with Brazil potentially setting an example for other countries.
The proposed bill aims to diversify Brazil’s international reserves through the establishment of a Bitcoin reserve and emphasizes promoting research and development in blockchain technology.
According to the latest report by Chainalysis, Brazil ranks 10th in the global crypto adoption index and recorded the second-highest volume of cryptocurrency inflows worldwide between 2022 and 2023. This highlights the country’s growing prominence in the global crypto landscape.
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