Brazilian lawmakers are poised to make a significant move in the global cryptocurrency landscape with the reintroduction of a bill aimed at creating a national Strategic Sovereign Bitcoin Reserve, designated as RESBit. This ambitious proposal, put forth by Federal Deputy Luiz Gastão from the PSD/CE party, outlines a plan for the gradual acquisition of one million bitcoins over the course of five years.
The legislation aims to integrate Bitcoin into Brazil’s financial strategy, promoting the diversification of national reserves. Key guidelines specified in the bill include the phased accumulation of at least 1,000,000 BTC. Additionally, it prohibits the sale of any bitcoins that have been confiscated by Brazilian judicial authorities, ensuring that these assets remain under public control.
For taxation purposes, the bill outlines the potential for Brazil’s federal taxes to be paid in Bitcoin, while also encouraging public companies to participate in Bitcoin mining and storage activities. A strong emphasis on transparency is woven throughout the proposal, which mandates public disclosure of RESBit’s bitcoin holdings through online platforms, allowing for audits by citizens.
Security measures are a paramount concern, with the bill advocating for the secure storage of digital assets through various technologies such as cold wallets and multisignature wallets, alongside other internationally recognized practices. Additionally, it introduces the possibility of temporarily holding spot ETFs backed by Bitcoin within the reserve portfolio under urgent and limited circumstances.
Should this bill gain approval, Brazil would join a select group of nations actively holding Bitcoin at a national level, potentially positioning itself to surpass significant holders like the United States and China.
In the broader context, Brazil’s exploration into Bitcoin reserves taps into a global trend. El Salvador notably leads as the first nation to establish a strategic Bitcoin reserve, currently holding over 7,560 BTC under President Nayib Bukele’s initiative. Despite recent adjustments to mandatory Bitcoin acceptance requirements under International Monetary Fund agreements, El Salvador has continued its purchases, emphasizing financial sovereignty.
Furthermore, the United States is also in pursuit of a more expansive federal strategic Bitcoin reserve through the BITCOIN Act of 2025. Various states, including New Hampshire and Arizona, have enacted or proposed legislation allowing the investment of public funds into digital assets.
Internationally, countries like the Czech Republic and Switzerland have taken strides toward incorporating Bitcoin into their financial frameworks. Hong Kong, Ukraine, and Pakistan are also assessing measures to establish national Bitcoin reserves, with Pakistan explicitly committing to never sell its future holdings.
As Brazil navigates this regulatory climate, its potential entrance into the realm of national cryptocurrency reserves signals a broader movement towards embracing digital currencies as integral components of financial strategy worldwide.
