๐ง๐ท Urgent: Brazil is holding a public hearing on a proposal to create a "National Bitcoin Reserve"!
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๐ข What's new?
* The Economic Development Committee of the Brazilian House of Representatives is holding a public hearing to discuss a bill to create a "Strategic Bitcoin Reserve" (RESBit).
* This reserve could be valued at $18.6 billion, representing 5% of the country's international reserves.
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๐ก Why is this important?
* The goal of this proposal is to diversify the country's reserve assets and protect the economy from exchange rate fluctuations and geopolitical risks.
* This step is a strong signal that governments are beginning to view Bitcoin as an official reserve asset, rather than just a speculative asset.
* The proposal indicates that Brazil is seeking to become a leader in adopting digital assets at the national level.
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๐ Future outlook:
* If the project is approved, Brazil will join countries like El Salvador and Kazakhstan in adopting Bitcoin as a strategic asset.
* This move could encourage other countries to consider similar strategies, potentially changing the global financial landscape.
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