Bitcoin News Today: Philippines Proposes 10,000 Bitcoin National Reserve in Landmark Legislation

The Philippines is considering a groundbreaking legislative proposal to establish a long-term Bitcoin reserve, marking a significant step in the institutional adoption of digital assets in Asia. The initiative, introduced as House Bill No. 421 by Congressman Miguel Luis Villafuerte, would require the Bangko Sentral ng Pilipinas (BSP) to purchase up to 2,000 Bitcoin annually for five years, with the goal of accumulating 10,000 BTC in total. The purchased Bitcoin would be stored in secure, centrally managed facilities and held in a trust for at least 20 years, with exceptions only for use in retiring government debt [2].

Villafuerte has described the move as a strategic effort to diversify the country’s financial assets beyond traditional holdings such as gold and the U.S. dollar. He has referenced precedents in El Salvador, Brazil, and Switzerland, as well as U.S. Senator Cynthia Lummis’ proposed Bitcoin strategy, to justify the inclusion of Bitcoin in the nation’s sovereign asset portfolio. Villafuerte has also emphasized Bitcoin’s potential as a hedge against global economic instability, calling it “digital gold” that could enhance the resilience of the Philippines’ financial system [2].

The proposed legislation includes governance mechanisms to ensure transparency and oversight. The BSP would be required to report to Congress one year before the 20-year lock-up period expires, allowing lawmakers to decide whether to extend the holding period or gradually sell a portion of the reserve. Under the bill, a controlled sale of up to 10% of the reserve could occur every two years [2]. This structured approach aims to balance long-term financial planning with flexibility in response to evolving market conditions.

If enacted, the Philippines would become the first country in Asia to formally legislate a sovereign Bitcoin accumulation strategy. The move aligns with a global trend of governments exploring digital assets as part of national financial strategies. The initiative could also influence regional attitudes toward cryptocurrency, potentially encouraging greater adoption and investment in digital assets. However, it may also invite scrutiny over governance, security, and the broader implications of holding volatile assets within public financial systems [6].

While the bill is still in the legislative review stage, its introduction highlights the growing institutional interest in Bitcoin as a potential store of value. The proposal reflects a broader shift in how some governments are beginning to view digital assets—not just as speculative instruments, but as components of long-term economic planning. The outcome of this legislative effort will likely have far-reaching implications for the Philippines’ financial policy and its position in the global digital asset landscape.

Source: [1] Philippines Proposes Bold 10,000 Bitcoin National Reserve (https://bravenewcoin.com/insights/philippines-proposes-bold-10000-bitcoin-national-reserve-strategy)

[2] Philippines Proposes National Bitcoin Reserve Legislation (https://bitbo.io/news/philippines-bitcoin-reserve-bill/)

[4] Philippine Lawmaker Proposes Central Bank Bitcoin Reserve (https://cryptodnes.bg/en/philippine-lawmaker-proposes-central-bank-bitcoin-reserve/)

[6] A Paradigm Shift in Institutional Bitcoin Demand - BTC (https://www.ainvest.com/news/philippines-10-000-btc-sovereign-reserve-paradigm-shift-institutional-bitcoin-demand-2508/)