Brazilian lawmaker proposes $18 billion Bitcoin reserve initiative

Brazilian lawmaker Eros Biondini introduced legislation proposing the creation of a Bitcoin (BTC) Sovereign Strategic Reserve (RESBit) with an allocation of up to $18.6 billion — equivalent to 5% o...

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Brazilian lawmaker proposes $18 billion Bitcoin reserve initiative

Source: CryptoSlate

Brazilian lawmaker Eros Biondini introduced legislation proposing the creation of a Bitcoin (BTC) Sovereign Strategic Reserve (RESBit) with an allocation of up to $18.6 billion — equivalent to 5% of Brazil’s international reserves as of September. According to the bill, the RESBit will diversify Brazil’s Treasury assets, protect international reserves against exchange fluctuations and geopolitical […]