BlockBeats news, on November 27, according to The Block, Brazilian Congressman Eros Biondini proposed a bill on Monday suggesting the creation of 'Reserva Estratégica Soberana de Bitcoins (RESBit)', which means Strategic Sovereign Bitcoin Reserve. The proposal suggests allocating up to 5% of Brazil's approximately $372 billion national reserves to Bitcoin through a phased acquisition strategy.
The bill states that establishing a Bitcoin reserve can enhance the country's economy's resilience to currency fluctuations and geopolitical uncertainties.
