Bitcoin reserve bill introduced in Brazil’s Congress

Legislators in the Brazilian House of Representatives have proposed allocating 5 percent of the country’s $370 billion treasury to the Bitcoin strategic reserve.

The proposed Bitcoin (BTC) bill would limit Brazil’s reserves to around $18.5 billion worth of the world’s most valuable cryptocurrency, which is currently worth $1.83 trillion.

The House of Representatives, the lower house of Brazil’s National Congress, must pass the bill before it moves to the upper house, the Federal Senate. If lawmakers in the Federal Senate support the proposal, it will be sent to the Brazilian President for passage into law.

Strategic Bitcoin reserves have gained traction among various governments and jurisdictions in recent months and have been touted as an economic hedge and political rallying point.

The dominant Bitcoin rush

Before Donald Trump was re-elected in the United States, Jan3 CEO Samson Mow recommended Germany buy Bitcoin. The country emptied its $3 billion BTC coffers in July as BTC traded below $54,000. Bitcoin changed hands at over $91,000 at the time of writing and reached $99,600 this month. BTC gains mean missing out on over $1.5 billion in profits for the German government.

Bloomberg’s senior columnist Merryn Somerset Webb encouraged the new Labor-led British administration to “rebuild Britain” with its $5 billion treasury. Like President Donald Trump, Polish minister and presidential candidate Sławomir Mentzen promised to create a BTC reserve if elected in 2025.

President Trump has tapped crypto industry expertise for cabinet members focused on digital asset policy. Talks of appointing a “Crypto Czar” and establishing a new crypto role in the White House have increased market enthusiasm. In the US Senate, Cynthia Lummis of Wyoming has pushed to purchase 4% of the Bitcoin supply within five years.

The rush to adopt Bitcoin has shown no signs of fatigue as BTC dominance and geopolitics have taken over the mindset. Whether through criminal seizures in China, mining in Bhutan, or reserve offerings in the US and Brazil, countries are increasingly viewing cryptocurrency as a must-have.