Brazil Considers Bitcoin Sovereign Reserve Bill, Aiming for Diversification

The Brazilian Chamber of Deputies is reviewing a bill that would create a Bitcoin Sovereign Strategic Reserve. This plan would involve using up to 5% of Brazil’s international reserves for Bitcoin purchases. The goal is to diversify assets, reduce exchange rate and geopolitical risks, and support the development of blockchain technology and Central Bank Digital Currencies (CBDCs). The proposal is part of Bill No. 4501 of 2024 and has generated significant interest in the global crypto community.