Brazil to Explore Bitcoin Reserve in Landmark Hearing

Today, August 20th, Brazil will hold its first technical hearing on a groundbreaking proposal for a Bitcoin reserve. The Chamber of Deputies’ Economic Development Commission will discuss Bill 4501/24, which would authorize up to $18.6 billion in Bitcoin assets to be held by Brazil’s Treasury as the Bitcoin Strategic Reserve (RESBit). This move could revolutionize Brazil’s financial landscape and position the country as a leader in digital finance.