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Brazil Proposes National Bitcoin Reserve, Targets 1 Million BTC Over Five Years
Brazil Proposes National Bitcoin Reserve, Targets 1 Million BTC Over Five Years
Authored by Micah Zimmerman via BitcoinMagazine.com,
Brazilian lawmakers have reintroduced a bill to create a national Strategic Sovereign Bitcoin Reserve, known as RESBit, proposing the gradual acquisition of one million bitcoins over five years.
The bill, presented by Federal Deputy Luiz Gastão (PSD/CE), outlines a comprehensive framework to integrate Bitcoin into the country’s financial strategy and diversify national reserves.
The proposed legislation establishes several guidelines for RESBit.
First, the plan calls for a gradual accumulation of at least 1,000,000 BTC over five years.
It prohibits the...
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