Brazilian Congressman Eros Biondini has introduced a bill aimed at creating a national Bitcoin reserve, called the Strategic Sovereign Bitcoin Reserve (RESBit). The proposal suggests allocating up to 5% of Brazil’s $372 billion in international reserves to Bitcoin, to strengthen the country’s economic resilience. By adopting such a reserve, Brazil could better manage risks related to currency fluctuations and geopolitical uncertainties.
The bill highlights Bitcoin’s growing recognition worldwide, referencing key developments like El Salvador’s adoption of Bitcoin as legal tender and the approval of Bitcoin exchange-traded funds (ETFs) in the United States. Analysts Peter Chung and Min Jung from Presto Research have drawn parallels between Brazil’s initiative and the Bitcoin Act 2024, introduced earlier this year by U.S. Senator Cynthia Lummis. Lummis’ bill outlines a framework for federal Bitcoin reserves, while giving U.S. states the option to participate. Similarly, a Pennsylvania lawmaker recently proposed legislation allowing the state treasurer to invest in Bitcoin.
“Brazil likely won’t be the last nation to explore this path,” noted Chung and Jung. Their observation is echoed by developments in Texas, where lawmakers are discussing the creation of a strategic Bitcoin reserve. Dennis Porter, CEO of the Satoshi Action Fund (SAF), confirmed ongoing conversations with Texas legislators. “I’ve been invited to speak in Texas about strategic Bitcoin reserves, and discussions with lawmakers have already begun,” Porter shared in a recent post.
Interest in Bitcoin reserves is spreading beyond the Americas. In Europe, Polish presidential candidate Sławomir Mentzen has pledged to establish a national Bitcoin reserve if elected. Similarly, in the U.S., President-elect Donald Trump has included plans for a “strategic Bitcoin stockpile” in his campaign promises, further illustrating the political momentum behind Bitcoin reserves.
Corporate Moves: Saylor’s Presentation to Microsoft
In the private sector, MicroStrategy’s Michael Saylor has announced plans to present a Bitcoin investment strategy to Microsoft’s board of directors. Speaking at a November 19 event hosted by VanEck, Saylor explained, “I’ll be delivering a three-minute presentation to the board, outlining the strategy.” This coincides with an upcoming shareholder vote on December 10, which will determine whether Microsoft should formally evaluate Bitcoin investments.
The presentation comes as institutional interest in Bitcoin grows. Major holders like MicroStrategy and Metaplanet have recently expanded their Bitcoin portfolios, signaling broader confidence in Bitcoin as a strategic asset.
