Philippines Proposes Bitcoin Reserves in New Bill

The Philippines is taking a bold step toward embracing crypto by proposing to incorporate Bitcoin into its national reserves. Rep. Migz Villafuerte, who introduced House Bill 421, aims for the Bangko Sentral ng Pilipinas (BSP) to acquire 10,000 Bitcoin over five years to bolster national assets. The goal is to enhance financial security and diversify the country’s portfolio for economic stability. Similar to El Salvador’s adoption of Bitcoin as legal tender, this initiative could impact global cryptocurrency markets. ]