![]()
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Even as Bitcoin (BTC) struggles with weak price performance and heightened volatility over the past month, Brazil’s House of Representatives is signaling a markedly different long‑term outlook. Lawmakers are once again exploring the creation of a national Bitcoin reserve that could eventually hold as many as 1 million BTC.
Brazil’s Bitcoin Reserve Proposal
The renewed push comes through Bill No. 4,501 of 2024, which lays out the framework for establishing what would be called the Sovereign Strategic Reserve of Bitcoins, or RESBit
Related Reading: Coinbase Users Locked Out: Unable To Buy, Sell, Or Transfer CryptoThe proposal seeks to formally integrate Bitcoin into Brazil’s broader financial strategy, positioning the cryptocurrency as a component of the country’s national reserves. The initiative is associated with Federal Deputy Luiz Gastão, while the bill itself is authored by Federal Deputy Eros Biondini.
Lawmakers argue that holding BTC could help shield Brazil’s international reserves from currency volatility and geopolitical risks. In addition, the reserve would support the development and credibility of Brazil’s central bank digital currency (CBDC), the Digital Real—also known as Drex—by providing an additional layer of backing.
The proposal sets a clear limit on the scale of the initiative. RESBit would be capped at up to 5% of Brazil’s international reserves, and any purchases would be carried out gradually under a structured acquisition plan
The bill emphasizes that the program must adhere strictly to the country’s Fiscal Responsibility Law, ensuring that Bitcoin purchases do not jeopardize public accounts or fiscal stability.
Broader Blockchain Strategy
The Bitcoin bill also proposes the formation of a specialized advisory committee composed of experts in digital economy, blockchain technology, and cybersecurity. It also allows for the creation of inter‑institutional working groups to coordinate implementation and oversight.
But beyond reserve management, the proposal outlines broader measures designed to strengthen Brazil’s digital asset ecosystem. The text envisions educational initiatives and workforce training programs focused on blockchain and digital security, including the training of public servants
It also encourages the development of startups in the crypto and blockchain sectors and calls for investment in robust technological infrastructure to support innovation and secure operations.
Related Reading: SEC Chair Confirms Crypto Taxonomy Guidance In Line With CLARITY Act FrameworkSupporters of the bill argue that the concept draws on international precedents. The author cites examples such as El Salvador, the United States, China, Dubai, and the European Union, where governments have incorporated cryptocurrencies or blockchain technology into public policy in varying ways
According to the proposal’s rationale, integrating digital assets into national strategies can promote financial inclusion, attract investment, strengthen technological capabilities, and offer additional protection against exchange‑rate shocks.
The bill’s backers also point to Brazil’s strong domestic adoption of cryptocurrencies as a foundation for leadership in the region. They contend that a strategic Bitcoin reserve could position the country at the forefront of digital finance in Latin America
The 1-D chart shows BTC’s recovery on Friday toward $69,000. Source: BTCUSDT on TradingView.comAs of this writing, BTC has surged to the upper limit of its consolidation range, reaching $69,000. It has registered gains of 5% within the last 24 hours
Featured image from OpenArt, chart from TradingView.com
![]()
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Blockstream Jade hardware wallet adds Lightning Network support, becoming the first hardware wallet capable of making instant Bitcoin payments from cold storage.
Blockstream released version 5.2.0 of the Blockstream Green app on March 10, marking the first time Lightning payments are connected to the Liquid network. Users can convert Lightning payments into Liquid Bitcoin protected by the Jade device through atomic swaps, making Jade the first hardware wallet capable of interacting with the Lightning Network.
GateNews3m ago
Whale pension-usdt.eth recently opened a long position. CL still holds 1,000 BTC and a threefold short position.
Gate News Report, March 10 — According to Onchain Lens monitoring, the whale address pension-usdt.eth, which previously made huge profits on BTC and ETH, recently opened a 2x leveraged CL long position on Hyperliquid. Meanwhile, the address still holds a 3x leveraged short position in BTC, totaling 1,000 BTC, with a nominal value of approximately $69.89 million, currently with an unrealized loss of about $1 million.
GateNews34m ago
Gold and silver prices rose over 1.5% intraday, while BTC and ETH volatility indices dropped over 7%
On March 10th, gold prices rose to $5,218.17 per ounce, and silver prices reached $89.076 per ounce. The cryptocurrency volatility indices BTCD and ETHD both declined. The US dollar against the Chinese yuan slightly decreased, while it slightly appreciated against the Japanese yen. Global stock indices generally rose, and WTI and Brent crude oil prices both increased. The Gate platform supports trading of multiple assets.
GateNews36m ago
Bitcoin mining difficulty hits a new record
In February, global cryptocurrency mining saw significant developments, including a nearly 15% increase in Bitcoin's mining difficulty to a record 144.4 trillion. Bitdeer liquidated its BTC holdings and aimed to raise over 1,928,374,656,574,839,201 million for expansion. Market sentiment weakened after Trump's proposed tax increase, pushing Bitcoin below $65,000.
TapChiBitcoin49m ago
BTC 15-minute sharp decline of 1.32%: On-chain large transfers and long contract liquidations jointly exert pressure
Between 13:30 and 13:45 (UTC) on March 10, 2026, Bitcoin (BTC) experienced a short-term sharp decline, with a return of -1.32%. The price fluctuation range was from 69,723.0 to 70,921.5 USDT, with an amplitude of 1.69%. Trading volume during this period significantly increased, with on-chain large transfers rising by 18%. Market volatility intensified, accompanied by a rapid rise in panic sentiment, reflecting investors' high concern over sudden anomalies.
The main driver of this anomaly was the concentrated inflow of large on-chain transfers to exchanges, with some single transactions exceeding 1000 BTC, triggering institutional or large investor activity.
GateNews52m ago
BTC falls below $70,000, now at $69,813
Gate News Report, March 10, market data shows that Bitcoin has fallen below the $70,000 mark, currently trading at $69,813, with the 24-hour increase narrowing to 1.52%.
GateNews57m ago
