Brazil Congress Holds First Hearing on $19 Billion Bitcoin Reserve Plan

Brazil’s Congress is taking the first steps toward exploring a potential Bitcoin reserve. A hearing was held to discuss Bill 4,501/2024, which proposes establishing a Sovereign Strategic Bitcoin Reserve (RESBit) under federal control. The proposal aims for a maximum of 5% of foreign-exchange holdings, roughly $18-19 billion at current levels. This would be the most definitive move towards creating a national digital asset buffer.