Bitcoin News Today: Philippines Proposes 10,000 BTC Sovereign Reserve With 20-Year Lockup

The Philippines is exploring the creation of a Strategic Bitcoin Reserve, a bold legislative initiative that could position the country as a pioneer in Asia for the formal adoption of Bitcoin as a sovereign asset. House Bill No. 421, introduced by Representative Miguel Luis Villafuerte, proposes that the Bangko Sentral ng Pilipinas (BSP) acquire 10,000 BTC over five years, with a mandatory 20-year holding period before the asset can be sold. The measure mandates annual purchases of 2,000 BTC and stipulates that the reserve can only be liquidated to pay off national debt or address severe economic crises [1].

The bill emphasizes governance and transparency, requiring the central bank to manage the reserve under strict trust and reporting obligations. Custody, proof-of-reserves, and disposal rules would be legally codified, ensuring accountability throughout the 20-year period. Villafuerte, a vocal advocate for the initiative, argues that Bitcoin’s growing significance in global finance necessitates a proactive legislative approach to secure the country’s financial future [1].

The proposal has drawn attention from local crypto industry experts, who acknowledge its potential to strengthen the nation’s economic resilience. Miguel Antonio Cuneta of Satoshi Citadel Industries described the move as “an asymmetric bet in the upside for the Philippines,” suggesting that a diversified asset base could offer long-term benefits. He also noted that the country could follow models from other jurisdictions that have already begun building sovereign Bitcoin reserves [1].

Paul Soliman, CEO of BayaniChain, echoed the sentiment, calling the bill a “bold step” that treats Bitcoin as a censorship-resistant and auditable store of value. He emphasized the unprecedented transparency such a reserve could offer if the government discloses its wallet addresses, potentially building trust with the public [1]. However, Soliman also highlighted the risks involved, including price volatility, the use of public funds, and the current gap in financial literacy among Filipinos [1].

Luis Buenaventura, head of crypto at GCash, expressed cautious optimism, noting that while the proposal is unlikely to pass in its current form, it could inspire private and institutional adoption of Bitcoin as a reserve asset. He also suggested that the bill might prompt law enforcement agencies to more carefully manage seized digital assets in the future [1].

While the initiative remains in the early stages of legislative consideration, it reflects a broader global trend in which governments are reevaluating the role of Bitcoin in national treasuries. If enacted, the Philippines would join Bhutan and Pakistan as countries in the region experimenting with sovereign Bitcoin holdings. Unlike nations such as the U.S. and Germany, which have accumulated Bitcoin from law enforcement seizures, the proposed reserve would be built through planned purchases [1].

The success of the initiative will hinge on the government’s ability to navigate the risks associated with digital asset management. These include regulatory challenges, market volatility, and the need for secure infrastructure to protect large-scale Bitcoin holdings. As the debate continues, stakeholders will be watching closely to see whether the Philippines can strike a balance between innovation and fiscal responsibility [1].

Source:

[1] Philippines to Consider Strategic Bitcoin Reserve With 20-Year Lockup (https://decrypt.co/336611/philippines-to-consider-strategic-bitcoin-reserve-with-20-year-lockup)