A Brazilian congressman has proposed creating a national bitcoin reserve, echoing efforts by U.S. politicians. Eros Biondini introduced a bill on Monday suggesting Brazil's central bank establish a strategic reserve called ResBit. The plan involves gradually purchasing bitcoin until it makes up 5% of Brazil’s national reserves, as reported by local sources.
The initiative follows similar moves in the United States, where Republican Senator Cynthia Lummis is advocating for a national bitcoin reserve. Lummis, who previously proposed this idea during the Bitcoin 2024 conference, plans to reintroduce her bill now that Donald Trump is set to return to the White House. Her proposal suggests the U.S. Treasury acquire 1 million bitcoins over five years, to be held for at least 20 years. Lummis believes this approach could help address the national deficit and strengthen the economy. “It’s gaining momentum,” she told the Washington Examiner, emphasizing the need to rally support in Congress.
Biondini’s bill highlights how countries like El Salvador and the U.S. are integrating cryptocurrencies into their financial systems. According to the proposal, investing in bitcoin would boost financial sovereignty and support economic growth in Brazil.
Both Brazil’s and the U.S.’s plans share some common ground. They propose holding bitcoin in cold storage for security and require public reporting of transactions. However, while Lummis’s bill sets a 20-year holding period, Brazil’s proposal does not specify when the bitcoin could be sold.
Despite Trump’s apparent support for bitcoin, experts believe the U.S. has a long road ahead before such a bill becomes law. Even so, odds from Polymarket suggest there’s a 25% chance Trump may announce a bitcoin reserve within his first 100 days in office.
As nations like Brazil and the U.S. explore bitcoin as a strategic asset, the debate over integrating cryptocurrencies into national financial policies continues to gain momentum.
