The Philippine Strategic Bitcoin Reserve Act (House Bill 421) would create a 10,000 BTC national reserve by directing the Bangko Sentral ng Pilipinas to acquire 2,000 BTC annually over five years, positioning Bitcoin as a national security reserve and reporting quarterly proof-of-reserves.
10,000 BTC reserve proposed
Bangko Sentral ng Pilipinas (BSP) directed to acquire Bitcoin over five years
Planned cold storage and quarterly proof-of-reserves; estimated cost ~$1.1 billion
Philippine Bitcoin reserve proposal: 10,000 BTC via BSP purchases over five years — read the bill summary and implications for national security.
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The Philippine Strategic Bitcoin Reserve Act is proposed legislation that directs the Bangko Sentral ng Pilipinas (BSP) to establish a national Bitcoin reserve by acquiring 10,000 BTC within five years. The bill frames Bitcoin as a strategic reserve asset and mandates cold storage plus quarterly proof-of-reserves reporting.
The bill requires the BSP to purchase 2,000 BTC annually over five years, funding acquisitions from designated government appropriations. Custody responsibilities include secure cold storage and quarterly proof-of-reserves audits overseen by the Monetary Board. This approach aims to minimize market disruption and ensure transparency.
Quote: “The Strategic Bitcoin Reserve Act recognizes Bitcoin as an essential reserve asset for the digital age.” — Miguel Luis “Migz” Villafuerte, Representative, Philippine Congress
Front-loading national security rationale, the bill characterizes Bitcoin as “digital gold” that can diversify reserve assets and hedge geopolitical or fiat risks. Planners argue a designated digital reserve strengthens economic resilience and provides a modern asset class for strategic contingency planning.
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Source: https://en.coinotag.com/philippines-bill-could-require-bsp-to-acquire-10000-bitcoin-over-five-years-for-national-security-reserve/