On November 25, 2024, Brazilian Congressman Eros Biondini introduced a bill proposing the establishment of a Sovereign Strategic Bitcoin Reserve (RESBit). This initiative aims to allocate up to 5% of Brazil's national treasury to Bitcoin, approximately $18.5 billion USD, to diversify assets and enhance economic resilience.

As shown here, this is Brazil’s RESBit Bill, nicknamed ‘‘“Reserva Estratégica Soberana de Bitcoins” that has be proposed on 25.11.24. (Source - CamaraBR)

The proposed Bitcoin reserve is designed to protect Brazil's sovereign assets from currency fluctuations and geopolitical risks. Additionally, it could serve as collateral for the country's forthcoming central bank digital currency, the Real Digital (Drex).

This legislative move reflects a growing global trend of integrating digital assets into national financial strategies. Regardless of the bill's outcome, it underscores the increasing recognition of Bitcoin's potential role in national economies.

Brazil's consideration of a Bitcoin reserve highlights the country's proactive approach to financial innovation and asset diversification. Such developments contribute to the broader adoption and legitimacy of digital assets worldwide.