Brazil's Vice President advisor sees Bitcoin reserves as essential for long-term national prosperity and economic resilience.
Lawmakers propose allocating 5% of Brazil's reserves into Bitcoin, aiming to modernize and diversify state financial strategies.
Brazil is considering the creation of a 'Strategic Sovereign Bitcoin Reserve' (RESBit) by moving 5% of the nation's foreign exchange reserves into Bitcoin.
Brazil is embracing new technologies and initiatives such as enabling salaries to be paid in Bitcoin, developing cross-border payment systems, and approving a crypto ETF, signaling its readiness to embrace digital assets.