Brazil proposes establishing a Strategic Bitcoin Reserve, dedicating up to 5% of its international reserves to bitcoin, so increasing its leadership in Latin America’s digital economy.
Brazil is making waves in the global financial sector with a ground-breaking proposal: establishing a strategic Bitcoin reserve.
Congressman Eros Biondini has submitted a measure in Brazil’s Chamber of Deputies proposing that up to 5% of the country’s overseas reserves be assigned to bitcoin.
If authorized, this project has the potential to position Brazil as a digital economy leader and pave the path for more widespread bitcoin adoption in Latin America.
The planned reserve, known as RESBit (Reserva Estratégica Soberana de Bitcoins), aims to diversify Brazil’s national assets while protecting the economy from geopolitical risks and currency swings.
Congressman Biondini stressed the strategic significance of this decision, saying:
“The creation of RESBit is a strategic measure that positions Brazil as a leader in the new digital economy, reducing economic risks and expanding opportunities for technological and financial development.”
Brazil presently has no bitcoin in its reserves, whereas Venezuela has 240 BTC.
If the measure succeeds, the government might gradually buy up to $3 billion worth of bitcoin, which is equivalent to 5% of its overseas reserves. This methodical approach strives to build Brazil’s financial infrastructure while minimizing economic risks.
Brazil’s plan is influenced by other countries that have already integrated bitcoin into their financial systems.
El Salvador famously embraced Bitcoin as official cash in 2021, and Bhutan recently added bitcoin to its national wealth fund.
Senator Lummis proposes selling the most recent news about Bitcoin Reserve Strategic.
Senator Cynthia Lummis suggests selling Federal Reserve gold in order to buy bitcoin, with the goal of stabilizing the US economy and strengthening the dollar.
Senator Cynthia Lummis of Wyoming advocated an unorthodox plan to address the United States’ national debt, selling some of the Federal Reserve’s gold holdings to purchase bitcoin.
The senator’s idea, which he revealed in interviews and public pronouncements, is to build a national bitcoin reserve as a hedge against inflation and a tool to strengthen the dollar’s global dominance.
Senator Lummis, a longtime Bitcoin supporter, feels that the flagship digital asset has enormous potential to stabilize the US economy. During an interview with CNBC, she said:
“Americans are still dealing with inflation and high prices. They seek to lower the national debt. Bitcoin is an unchangeable asset that can be easily stored in federal vaults, making it an excellent instrument for this purpose.”
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