🇵🇭 After El Salvador: The Philippines is considering creating a strategic reserve of Bitcoin! 💰
In a historic move that could change the game in Asia, Congressman Migz Villafuerte announced the introduction of Bill 421 to the Philippine House of Representatives, proposing the establishment of the "Philippine Strategic Bitcoin Reserve".
📌 Key details of the project:
Purchase 2,000 Bitcoins annually for 5 years, reaching a total planned reserve of 10,000 BTC.
The duration of holding these assets is 20 years to support national security and reduce the burden of external debt.
The project aims to enhance financial stability and reduce reliance on traditional currencies like the US dollar, especially for developing countries.
This attempt is considered one of the largest in Asia to create a state-backed Bitcoin reserve.
💡 Importance of the step:
The Philippines could become the second country after El Salvador to adopt Bitcoin not just as an investment tool, but as a strategic asset for national security and financial stability.
If the law is adopted, it could set a global precedent in how governments deal with digital currencies.
⚠️ Warning: This information is for awareness and is not considered investment advice.