Brazil proposes to use 5% of its foreign exchange reserves to purchase Bitcoin
On the morning of November 27, member of the House of Representatives Eros Biondini introduced a bill to create a Strategic Reserve Fund for #Bitcoin for Brazil. This could help Brazil mitigate the risks of exchange rate fluctuations and geopolitical threats.
If approved by Congress, Brazil could buy $3 billion in #BTC. Currently, more and more countries are proposing to view Bitcoin as a risk-hedging asset similar to the U.S.
Is this a positive signal for BTC prices as more and more countries want to use BTC as a reserve asset?
