A Brazilian Congressman has suggested the establishment of a national Bitcoin (BTC) reserve in Brazil, known as the Bitcoin Sovereign Strategic Reserve (RESBit – Reserva Estratégica Soberana de Bitcoins, in Portuguese). The purpose of this reserve is to diversify the country’s Treasury.
A local media outlet, Portal do Bitcoin, reports that the politician, Eros Biondini, submitted the proposal on Monday, November 25.
“The establishment of RESBit is a strategic initiative that establishes Brazil as a leader in the emerging digital economy, thereby minimizing economic risks and creating new opportunities for technological and financial advancement. The sanction of this project is crucial for the country’s economic sovereignty and to ensure that Brazil is in accordance with global innovation trends,” the deputy stated in the bill’s justification.
In its current form, the law mandates the planned and progressive acquisition of Bitcoin, which is equivalent to up to 5% of the national reserves.
It is important to note that Biondini’s proposal would transfer the responsibility for the acquisition and administration of the RESBit to the Central Bank of Brazil. The law also specifies the Reserve’s storage method, which involves the use of chilled purses. It also provides half-yearly reports on the Reserve’s movements.
In 2025, Donald Trump and other United States legislators hinted at the establishment of a national Bitcoin reserve. This measure is the result of those efforts. Brazil and other developing nations are now preparing to adopt a more amiable stance toward Bitcoin and cryptocurrencies, in accordance with the United States’ leadership.
According to a report by Reuter earlier this morning, Argentina, which is under the administration of Javier Milei, and Morocco are also exhibiting a favorable stance toward Bitcoin. The latter is in the process of removing the prohibition on cryptocurrencies and establishing a transparent regulatory framework for digital assets in the future.
In Suriname, Maya Parbhoe, a well-known Bitcoin advocate, is standing for office with a campaign that is pro-Bitcoin. Parbhoe has made a commitment to make BTC legal tender in the event that she wins the election, in accordance with the actions taken by El Salvador in 2021.
The global interest in Bitcoin and blockchain technology is increasing among governments, corporations, central banks, and countries as they continue to evolve. Finbold recently reported that Romania recently exemplified this by conducting its 2024 presidential election ballots publicly on a blockchain.
Consequently, it is feasible that the global community may witness an increase in the adoption of cryptocurrencies in the years ahead, which could result in a surge in demand and potentially affect the prices of each underlying asset and the market capitalization.
However, these movements are still in their infancy, and it is anticipated that legislation such as the one proposed in Brazil will encounter political backlash from opposing viewpoints, a phenomenon that is comparable to that observed in Europe through the European Central Bank.
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