Brazil is edging closer to a historic move: adopting Bitcoin as part of its national reserves.
Next week, lawmakers will open debate on a proposal that could allocate nearly $19 billion in BTC to safeguard the country’s finances against currency swings and geopolitical shocks.
The plan, dubbed the Bitcoin Strategic Reserve (RESBit), will be the focus of an August 20 hearing before Brazil’s Chamber of Deputies. Rather than rushing a vote, officials will first collect views from regulators, banks, and crypto industry leaders. Among the speakers are Méliuz’s Bitcoin strategist Diego Kolling and ABcripto’s Julia Rosim, who also leads public policy at Bitso.
If advanced, the legislation would give custody responsibility to the Central Bank and Finance Ministry, requiring regular performance and risk assessments. Supporters point to Brazil’s status as Latin America’s largest crypto market, with more than $76 billion in trading volume last year, as evidence the nation is ready for a deeper commitment.
The idea was championed by lawmakers eager to diversify reserves and reduce reliance on traditional assets. Deputy Luiz Philippe de Orleans e Bragança, who requested the hearing, stressed the importance of incorporating technical analysis from monetary authorities before the bill faces committee reviews.
Brazil has long been a regional leader in adoption, ranking 10th worldwide in crypto usage according to Chainalysis. Advocates argue that a Bitcoin reserve would cement its role as a digital economy pioneer, following experiments by countries from El Salvador to China.
The proposal faces a rigorous path: approval from four committees, then full votes in both the Chamber and the Senate. Still, if successful, Brazil would become one of the largest economies to officially integrate Bitcoin into its treasury — potentially reshaping how emerging markets think about monetary resilience.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/will-brazil-become-the-next-nation-to-add-bitcoin-to-its-treasury/