BlockBeats news, on November 27, according to The Block, Brazilian Congressman Eros Biondini proposed a bill on Monday proposing the creation of “Reserva Estratégica Soberana de Bitcoins (RESBit)”, a strategic sovereign Bitcoin reserve. The proposal proposes allocating up to 5% of Brazil’s approximately $372 billion in national reserves to Bitcoin through a phased acquisition strategy.
The bill states that establishing a Bitcoin reserve can strengthen the country’s economy’s resilience to currency fluctuations and geopolitical uncertainty.
Source link
<p>The post Brazilian lawmakers propose setting up national Bitcoin reserve to hedge economic risks first appeared on CoinBuzzFeed.</p>
