Brazil could become the first G20 country to include Bitcoin in the structure of its international reserves. The discussed bill allows for an investment of up to 5% of $370 billion in state reserves — the document has already passed its first vote in parliament.
The authors of the initiative want Bitcoin to become part of the government strategy: to supplement the basket of reserves, reduce dependence on traditional assets, and officially include crypto in the financial management system.
Unlike El Salvador, where Bitcoin was accepted by presidential decree, Brazil went through a parliamentary process. This path may provide a solid legal foundation for the initiative.
«The largest economy in Latin America is betting on $BTC . This is serious,» wrote pete_rizzo_.
The passing of the first stage in parliament is already being called a historic moment: for the first time in the world, a large economy officially recognizes Bitcoin as part of its sovereign reserves. This makes Brazil potentially the first among G20 countries and creates an important precedent.
Such a move has already sparked global debates about the role of Bitcoin in the reserves of countries. Institutional investors and leaders in the crypto industry are closely monitoring the situation. The initiative could serve as a model for other states and extend far beyond Latin America.
«If Brazil makes Bitcoin part of its strategic reserves, it will trigger a domino effect. This is not a repeat of El Salvador — this is a new phase where $BTC receives official recognition as a reserve-level asset,» wrote shanaka86.
Now the bill must go through the main vote in the Chamber of Deputies.
If the law is approved, it could be a turning point. Brazil will give Bitcoin official status in reserve management. Such a move could influence financial policy not only within the country but also beyond its borders.
