Brazilian Congressman Eros Biondini proposed a bill on Monday to create the 'Sovereign Strategic Reserve of Bitcoins (RESBit)', which is a 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 economic resilience against currency fluctuations and geopolitical uncertainties. The proposal also highlights examples such as El Salvador adopting Bitcoin as legal tender and the U.S. approving a spot Bitcoin ETF as an innovative national strategy. (The Block)