Emre Yumlu 
A major economy may soon take a historic step toward integrating Bitcoin into its national reserve strategy. In Brazil, a new legislative proposal aims to position Bitcoin (BTC) as a strategic state-held asset, signaling a potential shift in how governments view digital currencies within sovereign reserve frameworks.
An alternative draft tied to bill PL4501/2024, introduced within the Economic Development Commission of Brazil’s Chamber of Deputies, proposes the creation of a “National Strategic Bitcoin Reserve” (RESBit). If adopted, the initiative could mark one of the most ambitious state-level Bitcoin accumulation strategies to date.
A Five-Year Plan to Accumulate 1 Million Bitcoin
Under the proposal, the Brazilian government would gradually accumulate at least 1 million BTC over a five-year period. The rationale behind the plan centers on strengthening financial resilience, diversifying national reserves, and enhancing Brazil’s competitiveness in the evolving digital asset economy.
The envisioned RESBit structure would position Bitcoin as either an alternative or complementary asset to traditional reserves such as foreign currencies and gold. In this framework, Bitcoin would move beyond its role as a speculative investment and be formally recognized as a strategic reserve instrument at the state level.
Beyond Reserves: Expanding the Bitcoin Ecosystem
The draft proposal extends well beyond reserve accumulation. It outlines broader measures aimed at fostering a supportive digital asset environment across the country.
Key elements include:
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Allowing taxes to be paid using Bitcoin.
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Granting income tax exemptions on capital gains derived from digital assets.
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Legally safeguarding individuals’ rights to self-custody and freely transfer their digital holdings.
Collectively, these measures would strengthen digital property rights and promote greater financial autonomy for citizens, while encouraging wider adoption of crypto assets.
A Turning Point for Latin America?
If Brazil ultimately implements a strategic Bitcoin reserve of this scale, it could usher in a new phase of state-level crypto adoption across Latin America. Such a move would likely intensify global discussions around the role of digital assets in sovereign reserve management.
For now, the proposal remains under committee review. To become law, it must pass approval processes in both the Chamber of Deputies and the Senate. Regardless of the outcome, the initiative highlights how digital assets are increasingly entering mainstream policy debates at the highest levels of government.
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