Brazil Prepares to Join Bitcoin Revolution with Sovereign Reserve Proposal

Brazil is exploring a groundbreaking move: integrating Bitcoin into its national reserve system, potentially setting a new global precedent. A bill currently under consideration proposes allocating up to 5% of the country’s international reserves to Bitcoin acquisition, aiming to mitigate exchange rate fluctuations and reduce geopolitical risks while fostering blockchain technology development in the process. This bold initiative could significantly impact the global landscape if approved. Congressman Luiz Gastão, a key figure supporting the proposal, highlights the need for a cautious approach to balance potential benefits with inherent risks.