Exploded! The Philippines' Shocking Proposal to Buy 10,000 Bitcoins, Aiming to Become the 'New Dominator' in the Crypto World?

Under the watchful eyes of the global cryptocurrency market, the Philippines has dropped a 'heavy bomb'! According to Cointelegraph, the Philippine Congress is carefully considering a groundbreaking proposal—to have the central bank rapidly establish a strategic reserve and lavishly purchase 10,000 Bitcoins!

This proposal was strongly put forward by Camarines Sur representative Migz Villafuerte, and the plan is bold: over the next five years, purchase 2,000 Bitcoins annually, rain or shine. Moreover, these Bitcoins must be 'locked' in trust for 20 years; unless government debts are repaid, they cannot be easily accessed, making the confidentiality level incredibly high!

Migz Villafuerte is well aware that in today’s complex and ever-changing global financial situation, the Philippines must have strategic assets at hand, and Bitcoin is an excellent choice to solidify the country’s financial stability. He also suggested that Congress quickly formulate new laws to give national assets a complete 'makeover' to become more diversified.

If this bill can be smoothly passed, the Philippines' status in the Bitcoin realm will be completely different! It’s worth noting that El Salvador, currently the 'small dominator' in Bitcoin holdings, only possesses 6,276 Bitcoins, while the Philippines, upon reaching its goal, could easily surpass this and even compete with Bhutan, which holds 10,565 Bitcoins, potentially rewriting the cryptocurrency landscape!

Once this news broke, the global financial community was instantly stirred, and the cryptocurrency market was thrown into a frenzy. Some cheered that this is a 'highlight moment' for Bitcoin’s mainstream acceptance, while others questioned the high volatility and risk of Bitcoin, suggesting that the Philippines is playing with fire.

Nevertheless, the Philippines’ move has certainly caught the attention of global investors. What will be the fate of the subsequent bill? How will Bitcoin prices be affected? What kind of dramatic changes will the Philippine financial landscape undergo? Everyone is holding their breath, waiting for the continuation of this 'crypto drama'!