Brazil follows US: Bitcoin in national reserves

By Daniele Corno

Brazil follows the lead of El Salvador and U.S.: Strategic reserve in Bitcoin to diversify reserves and support CBDC DREX

Bitcoin as a state reserve

Brazil follows the direction taken by El Salvador and the proposal in the U.S.

Congressman Eros Biondini, on Monday presented a bill to create the “Reserva Estratégica Soberana de Bitcoins (RESBit)”. The proposal, suggests thepurchase of Bitcoin as a state strategic reserve, for an amount not exceeding 5 percent of current reserves, or about $372 billion.

The objective presented, is to diversify Treasury reserves and support DREX, the CBDC of the Brazilian central bank. The assets would be managed through a partnership between the Central Bank of Brazil and the Ministry of Finance with custody through Cold Wallet.

According to Biondini also, the formation of RESbit would benefit Brazil, reducing economic risks and expanding opportunities for technological-financial development.

A global example for the future of Bitcoin

After the first case study in El Salvador and later, with the election of Trump, the proposal to create government reserves in Bitcoin in the U.S., the use of Bitcoin as a store of value is beginning to be a real use case.

According to Presto Research analysts, Brazil’s proposal is similar to the Bitcoin Act 2024 proposed by U.S. Senator Cynthia Lummis in July 2024.

In addition, Biondini’s proposal will be followed by educational programs to educate the public about digital assets; moreover, the acquisition of Bitcoins will be done through gradual and controlled purchases. Brazil is thus positioned at the forefront, acting as a case study for Bitcoin’s future within global government institutions.