Brazilian Congress Shocks the World: Bitcoin Strategic Reserve Bill Passes Committee with 5% of Foreign Exchange Redirected to Crypto Assets!
On June 12, 2025, the Brazilian Congress witnessed a historic moment — the proposal by Congressman Eros Biondini was passed with overwhelming support in the House Economic Development Committee.
The bill proposes to allocate 5% of Brazil's foreign exchange reserves (approximately hundreds of billions of dollars) to Bitcoin, creating a national strategic reserve named 'RESBit', aimed at making Brazil the second country after El Salvador to legislate Bitcoin sovereignty!
Core of the Bill: Digital Gold Protects the Economy, Blockchain Technology Sets a Benchmark
According to the bill, the Brazilian Central Bank will strictly manage Bitcoin reserves using cold wallets and an AI monitoring system, submitting audit reports to Congress every six months to ensure transparent operations. Senior government official Pedro Giocondo Guerra has publicly stated that Bitcoin is 'digital gold', capable of resisting currency fluctuations and geopolitical risks, and injecting a 'boost' into the prosperity of the Brazilian economy.
The bill also plans to promote the widespread use of blockchain technology and support the implementation of the central bank's digital currency DREX, building a new ecosystem for the digital economy.
Global Shock:
Brazil Leads the Sovereign Crypto Trend, Lula Government Targets Financial Hegemony
The Lula government in Brazil sees this move as 'key to national prosperity', emphasizing its alignment with the public interest.
If the bill is ultimately passed, Brazil will completely break free from a single reliance on traditional fiat currency, directly challenging the dollar-dominated global financial system. Previously, Brazil was the first to approve a Bitcoin spot ETF, becoming a leader in the Americas crypto market.
Controversies and Prospects: Phased Implementation, Economic Stability First
Although the bill still needs to pass through the Technology, Constitutional, and Finance Committees before being submitted to the Senate and the President for signing, its initial phase success has attracted global attention. Opponents are concerned about the volatility risk of Bitcoin prices, but Biondini emphasizes that phased implementation and fiscal responsibility will ensure economic stability.
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