In a latest development, a bold legislative proposal has been introduced Member of Brazil’s Chamber of Deputies Eros Biondini to establish a strategic Bitcoin reserve. The plan would allocate up to 5% of the nation’s international reserve to buy Bitcoin and diversify its national assets. The Congressman views the ‘Bitcoin Strategic Sovereign Reserve’ as a way to hedge against exchange rate fluctuations and geopolitical risks. The country could buy up to $3 billion worth of BTC if Congress eventually passes this bill. This move signals a forward-looking approach to integrating digital assets into sovereign reserve strategies.
