Brazil Advances Bill for National Bitcoin Reserve – Coincu

Brazil’s House of Representatives has moved forward with the PL 4501/2023 bill to establish a national Bitcoin reserve.

The potential creation of the “RESBit” reserve to allocate 5% of foreign exchange reserves to Bitcoin can position Brazil alongside El Salvador in legislating Bitcoin reserves.

Brazil Proposes 5% FX Reserves Allocation to Bitcoin

The PL 4501/2023 bill, proposed by Federal Congressman Eros Biondini, received approval from Brazil’s Economic Development Committee, pushing the initiative for a national Bitcoin reserve. The bill suggests allocating “RESBit” up to 5% of Brazil’s foreign currency reserves to Bitcoin, with the Central Bank and Ministry of Finance tasked with managing it using cold wallets and submitting bi-annual audits to Congress.

Proponents argue this reserve may diversify Brazil’s assets and reduce reliance on fiat currency. If ratified, Brazil would be the second country after El Salvador to legislate for a state Bitcoin reserve.

Eros Biondini, Federal Congressman, Brazil, – “The introduction of the national Bitcoin reserve aims to drive technological innovation and enhance Brazil’s economic resilience.” Source

With no direct statements available from key figures, market watchers and blogs speculate that formal adoption could spur broader state and institutional confidence in Bitcoin. The Economic Development Committee’s approval is a crucial step, although full enactment requires further legislative committee reviews.

Bitcoin’s Potential Impact on Brazil’s Economic Strategy

Did you know? El Salvador was the first country to adopt Bitcoin as legal tender and to establish Bitcoin reserves in 2021. Brazil might follow suit, demonstrating continued governmental interest in Bitcoin as a strategic reserve asset.

As of June 12, 2025, Bitcoin’s current price of $107,482.53 reflects a 24-hour change of -2.52%. Its market cap stands at $2,136,528,521,187.00 with a 24-hour trading volume of $52,415,838,289.00, according to CoinMarketCap. Over 90 days, Bitcoin’s value has increased by 29.88%.

The Coincu research team emphasizes that Brazil’s move could signal other large economies to evaluate digital assets for reserves. However, the ongoing legislative reviews require monitoring for regulatory adjustments that may arise.