Brazil’s Congress to weigh Bitcoin Reserve as hedge against global risks
New legislation aims to establish a sovereign federal Bitcoin Reserve, potentially enhancing asset diversification and economic resilience.
A newly proposed bill in Brazil’s Congress plans to establish a sovereign federal Bitcoin Reserve, potentially reshaping the country’s approach to digital assets.
The bill was introduced on Nov. 25 by Congressman Eros Biondini and seeks the creation of a Sovereign Strategic Bitcoin Reserve known as RESBit.
According to the legislation, the Bitcoin (BTC) reserve could shield the country’s sovereign reserve from currency fluctuations and geopolitical risks while also serving as collateral for the country’s forthcoming central bank digital currency, dubbed Real Digital (Drex).
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Author: Ana Paula Pereira
