$15 Billion Bitcoin Bet? Brazil Considers Adding BTC to National Reserves
Main Idea
Brazil's House of Representatives is considering a proposal to allocate up to 5% of the country's foreign reserves to Bitcoin, with a decision expected after a meeting on August 20, 2025.
Key Points
1. The proposal suggests using up to 5% of Brazil's foreign reserves (approximately $300 billion as of February) to purchase Bitcoin.
2. A meeting involving the Central Bank of Brazil, the Ministry of Finance, and representatives from banking and fintech industries is scheduled for August 20 to discuss the proposal.
3. If approved by the House, the proposal will require final approval or rejection by President Luiz Inácio "Lula" da Silva.
4. The discussion is seen as important for Brazil's economic future, addressing currency volatility and global uncertainty.
5. The proposal was first introduced in November 2024 and has garnered attention from both government and business sectors.
Description
Members of Brazil’s House of Representatives are set to meet on August 20 to consider a new proposal that would allow the country to invest part of its reserves in Bitcoin BTC .
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