Philippines Proposes Strategic Bitcoin Reserve
Philippine Congressman Migz Villafuerte has introduced Bill 421, which proposes to create a strategic bitcoin reserve for the country. According to the document, the Bangko Sentral ng Pilipinas must purchase 2,000 BTC annually for five years. As a result, the state will be able to accumulate 10,000 coins, which will be stored in reserve for 20 years. The initiator emphasizes that this measure is aimed at protecting national security and the stability of the country's debt policy.
The author of the bill points out that Bitcoin has already been recognized as a key digital asset, which is compared to gold. He emphasizes: BTC has shown the greatest growth among all classes over the past 5 years with a cumulative annual growth of about 40%. At the time of drafting the bill, the price of Bitcoin reached $108,319, which further increased interest in its use as a strategic resource. Such a reserve should become an alternative to the US dollar and increase the country's financial independence.
Similar initiatives are already being implemented in other countries. In El Salvador, Bitcoin is recognized as an official currency and is used in state reserves. In Brazil, the RESBit program has been launched, which involves storing cryptocurrencies in international reserves. In Europe, the possibility of integrating BTC in Switzerland and Germany is being discussed. Poland is also considering creating strategic reserves based on cryptocurrencies. In Asia, similar initiatives have already appeared in Hong Kong, Bhutan, and Thailand.
Global practice shows that using BTC as a strategic reserve is gaining popularity. Many countries view it as a tool to reduce dependence on the dollar and a way to protect the economy from crises. The limited emission of 21 million coins makes Bitcoin an attractive asset that is difficult to depreciate. The largest holders of cryptocurrency at the beginning of 2025 remain the United States, China, and Great Britain.
For the Philippines, this project is becoming especially relevant against the backdrop of growing public debt. At the same time, most of the debt is domestic obligations. The bill is seen as a step towards strengthening financial stability and diversifying national assets.
Source: cryptonews.net
