Brazil's House of Representatives is advancing a bill to create a national Bitcoin reserve, which could alter the country's financial strategy.
Bill PL 4501/2023 for Bitcoin Reserve
The PL 4501/2023 bill, proposed by Federal Congressman Eros Biondini, has received approval from Brazil’s Economic Development Committee. The bill suggests creating a reserve called 'RESBit' to allocate up to 5% of Brazil's foreign reserves to Bitcoin, managed by the Central Bank and the Ministry of Finance using cold wallets, with bi-annual audits submitted to Congress.
Bitcoin's Impact on Brazil's Economic Strategy
Proponents argue that the reserve may diversify Brazil's assets and reduce reliance on fiat currency. If ratified, Brazil would become the second country after El Salvador to legislate for a state Bitcoin reserve.
Prospects and Status of Bitcoin Market
As of June 12, 2025, Bitcoin's price is $107,482.53, reflecting a 24-hour change of -2.52%. The market cap stands at $2,136,528,521,187 with a 24-hour trading volume of $52,415,838,289. Over the past 90 days, Bitcoin's value has increased by 29.88%.
The proposal for a national Bitcoin reserve in Brazil could have significant implications for the country’s financial infrastructure, opening up new opportunities for the integration of digital assets.
