In the dull light of the congressional corridor, a bill proposes to gather up to a million bitcoins, as if wealth were a ward that can be restrained by a pair of cuffs and a signature.
New 1 Million BTC Strategic Bitcoin Reserve Bill Presented in Brazilian Congress
Brazil’s lawmakers seem keen to become one of the most crypto-ventured nations, as if the future is a theater and the stagehands are counting lines in satoshis.
A substitute bill, the draft of which wanders from desk to desk like a disappointed cousin, would permit rewriting of an already introduced draft, an ostentatious game with the rules of the game itself.
The new document states that RESbit, the “Strategic Sovereign Bitcoin Reserve,” now contemplates “planned and gradual acquisition of bitcoins as strategic reserve assets of the Union to accumulate at least 1,000,000 BTC (one million bitcoins) over 5 (five) years.” This is a mouthful that could choke on its own ambition, and the central bank is to manage the affair with the seriousness of men who have never owned a bicycle but insist on wearing the helmet of destiny.
Previously, the bill spoke of spending up to 5% of Brazil’s foreign reserves to diversify the assets of the National Treasury with an asset immune to inflation and to the confiscation of third parties, which would be managed by the central bank as part of the national treasury. A kitchen-table dream dressed in legalese, perhaps.
Moreover, it suggests changes: a ban on selling bitcoin seized by judicial authorities, accepting bitcoin as a payment method for federal taxes, and encouraging companies that mine or hold bitcoin. The atmosphere is one of a village meeting where everyone clings to a ledger and to a rumor that luck can be counted in megabytes.
Deputy Luis Gastao insists these modifications are not merely to fund a reserve, but to secure the rights to custody of digital assets, as if rights could be stored in a safe and labeled “fragile” like china.
If approved by the commissions and Congress, the bill would allocate nearly $68 billion to acquire 1 million BTC, placing Brazil among the most Bitcoin-rich nations and perhaps provoking a sneer from the United States and China, those giants who hoard with less ceremony and more bureaucracy.
Yet the bill may collide with central bank regulations that do not currently recognize BTC as a reserve asset; the march of reform often trips over the ankles of established habits.
FAQ
-
What recent legislative development has Brazil introduced regarding Bitcoin?
Brazil’s Congress proposes a “Strategic Sovereign Bitcoin Reserve,” aiming to accumulate 1 million BTC over five years, with the whole thing filmed for posterity by the committee clerk. -
What changes does the new bill propose compared to its predecessor?
It expands the scope to allow significant spending on Bitcoin and introduces measures like accepting Bitcoin for federal taxes; a spectacle of policy with the gravity of a village fête. -
How much funding is allocated for the acquisition of bitcoin under this bill?
If approved, Brazil plans to spend nearly $68 billion to secure 1 million BTC, potentially surpassing the reserves of the U.S. and China. -
What challenges does the bill face in implementation?
It must align with existing central bank regulations that do not yet recognize bitcoin as a reserve asset.
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2026-02-13 12:57