A Brazilian lawmaker has put forth a bill that aims to establish a Bitcoin reserve as part of the nation’s financial assets diversification strategy.
Congressman Eros Biondini introduced the bill on Monday, proposing the creation of the “Reserva Estratégica Soberana de Bitcoins (RESBit),” also known as the Strategic Sovereign Bitcoin Reserve.
The bill suggests allocating up to 5% of Brazil’s international reserves, which amount to around $372 billion, to Bitcoin through a gradual acquisition plan. The purpose of this move is to boost Brazil’s economic resilience to currency fluctuations and unpredictability in the global political climate.
