In a move mirroring earlier initiatives from the U.S., Brazil's Congress has reintroduced Bill 4501/2024. The proposal aims to create a Strategic Sovereign Bitcoin Reserve (RESBit), authorizing the country to acquire up to 1 million BTC. This move is intended to diversify the national treasury and provide collateral for Brazil's digital currency, Drex, creating significant long-term bullish sentiment. $BTC #GateSquare$50KRedPacketGiveaway
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Brazil Proposes 1 Million BTC Strategic Reserve
In a move mirroring earlier initiatives from the U.S., Brazil's Congress has reintroduced Bill 4501/2024. The proposal aims to create a Strategic Sovereign Bitcoin Reserve (RESBit), authorizing the country to acquire up to 1 million BTC. This move is intended to diversify the national treasury and provide collateral for Brazil's digital currency, Drex, creating significant long-term bullish sentiment. $BTC #GateSquare$50KRedPacketGiveaway