- As the leader of BRICS, Brazil is now exploring the possibility of creating a national strategic reserve in Bitcoin.
- Pedro Giocondo Guerra stressed that establishing a national strategic Bitcoin reserve is increasingly important for Brazil’s public interest and economic prosperity.
During the inauguration of Deputy Júlio Lopes (PP-RJ) as the new president of the Parliamentary Front for a Competitive Brazil (FPBC), Pedro Giocondo Guerra, Chief of Staff to Vice President Geraldo Alckmin, emphasized the importance of discussing a national strategic Bitcoin reserve.
Representing President Luiz Inácio Lula da Silva’s administration, Guerra stated,
Debating rigorously the creation of a sovereign reserve of bitcoin value is in the public interest and will be crucial to our prosperity. After all, bitcoin is digital gold, the gold of the internet. It is a technology that allows us to transfer wealth from one end of the planet to the other with agility and store the fruits of our labor efficiently and securely,
Supporters of the national Bitcoin reserve argue that it could serve as a hedge against inflation and currency devaluation, strengthening Brazil’s financial stability. However, critics point to the volatility of cryptocurrencies and the regulatory challenges involved in implementing such an initiative. In line with this debate, Brazil has already seen legislative efforts to formalize Bitcoin’s role in its economy.
In November 2024, Congressman Eros Biondini introduced a bill proposing the establishment of a Strategic Bitcoin Reserve (RESBit), which aims to allocate up to 5% of Brazil’s international reserves, approximately $18.6 billion, to Bitcoin. Under this proposal, the Central Bank of Brazil and the Ministry of Finance would be responsible for acquiring and securely storing Bitcoin, using cold wallets for maximum protection.
The bill also proposes the creation of a technical advisory committee consisting of cybersecurity experts to oversee the reserve. Additionally, it includes provisions for training public officials, launching academic programs focused on blockchain and cybersecurity, and fostering startups involved in crypto-related projects. If enacted, the initiative could position Brazil as a leader in the digital economy.
Global Bitcoin Adoption Trends
Brazil’s move toward Bitcoin adoption aligns with its broader economic strategy within BRICS. As the current president of the bloc, Brazil is exploring digital payment solutions aimed at reducing reliance on SWIFT. As CNF reported, this also seeks to lessen dependence on dominant foreign currencies such as the U.S. dollar and improve the efficiency of financial transactions among BRICS nations.
Brazil’s discussions about a Bitcoin reserve mirror a growing trend among nations integrating Bitcoin into their financial policies. El Salvador, for example, became the first country to adopt Bitcoin as legal tender in 2021 and has continued accumulating the cryptocurrency, with total holdings reaching 6,068.18 BTC. The United States has also taken steps in this direction, with legislative efforts advocating for Bitcoin reserves at both federal and state levels.
Following his re-election in 2024, President Donald Trump signed an executive order establishing a national Bitcoin reserve, initially funded with 200,000 BTC acquired from confiscated assets. Currently, Bitcoin is trading at $83,770, reflecting a 1.59% decrease in the past 24 hours and a 0.65% decline over the past week.
