Brazil Revives Bill to Create Strategic Bitcoin Reserve of Up to 1 Million BTC
Brazil's Congress is considering a revived bill that would permit the government to acquire up to 1 million bitcoin for a strategic national reserve. The proposal represents a major escalation from previous plans and, if approved, would place Brazil among the world's largest sovereign BTC holders. Lawmakers are discussing custody, accounting and funding mechanisms as the measure moves through committee, but no purchase timeline has been set.
The proposal could reshape Brazil's balance-sheet strategy by adding a crypto-focused hedge and signalling stronger state acceptance of digital assets. Market participants will watch for demand effects and potential volatility, while analysts note risks around price swings, regulatory scrutiny and operational custody. The bill's passage and implementation details could influence other countries weighing bitcoin as a reserve asset.