Brazil’s House of Representatives is examining a legislative proposal to invest 5% of the country’s treasury reserves into Bitcoin, potentially deploying up to $15 billion in the cryptocurrency.
The bill has generated divided reactions among officials and the public. Brazil’s central bank director has notably expressed skepticism regarding the strategy, reflecting broader institutional reservations about incorporating volatile assets into national reserves.
Proponents argue that the measure could modernize Brazil’s financial management framework and stimulate technological innovation across both public and private sectors if successfully enacted into law.
This initiative aligns with a growing international trend of nations exploring Bitcoin as reserve assets, following similar considerations or holdings by countries including the United States and Kazakhstan.