📅 On August 20, a public hearing will be held in the Brazilian Parliament to discuss a bill that could change the course of monetary policy in the country... The Brazilian central bank's purchase of Bitcoin and allocating it as part of the national reserve up to 5%! 🇧🇷💰
---
💡 What does the law propose?
🪙 The Brazilian central bank will gradually start purchasing Bitcoin until these assets represent 5% of total foreign reserves
🔐 The law requires that Bitcoin be stored in Cold Storage wallets for maximum security
📢 The law also mandates full transparency through public disclosure of all operations
❗️But it does not specify when or under what circumstances these holdings may be sold
---
🌍 What is the international context of this decision?
The bill refers to steps taken by major countries:
🇸🇻 El Salvador: The first country to adopt Bitcoin as an official currency
🇺🇸 United States: Established a "Strategic Bitcoin Reserve" in March, pledging not to sell BTC, but to increase it from sources like judicial seizures
🌐 Other countries like Bhutan, Kazakhstan, and Indonesia have begun to study or implement similar policies
---
🧠 Why is this step important for Brazil?
✅ Diversifying state reserves away from the US dollar
✅ Hedging against inflation and global market volatility
✅ Sending a message of confidence in the digital economy and embracing innovation
But it also raises questions:
❓ Does Brazil have the technical expertise to manage an asset like Bitcoin?
❓ What is the impact of this step on its relationship with global monetary institutions?
❓ Will this encourage more emerging countries to take similar steps?
---
💬 Your opinion matters to us:
Do you think Brazil is really ready to adopt Bitcoin as part of its national reserves?
Will we see more Latin American countries follow this path? 👇
📌 Source: Decrypt
