365Crypto
Brazil is considering stacking sats at a national level.
On August 20, Brazil’s lower house will hold a hearing about a new bill. The proposal? Let the country buy and hold Bitcoin.
The plan would allow Brazil to use up to 5% of its treasury reserves — that’s around $15 billion — to purchase Bitcoin.
Several major institutions will join the hearing, including the Central Bank, Finance Ministry, fintech leaders, and crypto advocates.
What’s the goal?
The bill aims to protect Brazil’s reserves from wild currency swings and geopolitical drama. It also wants to push blockchain use in both the public and private sectors.
Still, the idea is controversial.
Pedro Giocondo Guerra, chief of staff to the VP, called Bitcoin “digital gold” and said this debate is crucial for Brazil’s future.
But not everyone agrees.
The Central Bank’s director of monetary policy, Nilton David, said Bitcoin doesn’t belong in the country’s reserve strategy.
What’s next?
If the bill passes in the House, it moves to the Senate. Then, it’s up to President Lula to sign or veto it.
Global trend?
Brazil isn’t alone.
Trump recently pushed for a U.S. Bitcoin reserve. Kazakhstan wants to build one using seized crypto. India and Sweden are also rumored to be exploring similar ideas.
Right now, the biggest BTC-holding countries are the U.S., China, the U.K., Ukraine, Bhutan, and El Salvador.
