A senior official in Brazil: Bitcoin reserves are "crucial" for Brazil's prosperity

2025-03-29 09:28:58

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ChainCatcher news, according to Decrypt, Brazil's Vice President's senior advisor Pedro Giocondo Guerra recently stated on behalf of the government: "The strategic reserve of Bitcoin is crucial for the prosperity of the nation. The discussion about establishing a BTC reserve may be a key factor in determining Brazil's prosperity, aligning with the interests of the nation and the public."

Brazilian Congressman Eros Biondini (PL-MG) previously proposed legislation to establish a "Strategic Sovereign Bitcoin Reserve" (RESBit). This would involve holding 5% of foreign exchange reserves (international reserves) in Bitcoin, with the Brazilian Central Bank using advanced monitoring systems, blockchain technology, and artificial intelligence to oversee transactions and responsible custody.

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