Deep Tide TechFlow News, on November 27, according to Crypto.news, a Brazilian congressman proposed to allocate 5% of the country's $370 billion treasury for a Bitcoin strategic reserve. This bill will limit the Bitcoin reserves to about $18.5 billion.

The bill needs to be passed by the House of Representatives before being submitted to the Federal Senate for review, and if supported, it will be submitted to the Brazilian President for approval to become law.