Bitcoin News Today: Philippines Proposes 10000 BTC National Reserve in Landmark Legislation

Generated by AI AgentCoin World
Saturday, Aug 23, 2025 2:55 am ET2min read
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Aime RobotAime Summary

- The Philippines proposes a 10,000 BTC national reserve via House Bill No. 421, aiming to diversify financial assets beyond gold and USD.

- The reserve would be accumulated over five years, stored in distributed cold wallets, and held for 20 years with strict sale restrictions to reduce national debt.

- Modeled after El Salvador and Switzerland, the initiative seeks to address debt while aligning with global trends like Bitcoin's "digital gold" recognition.

- The bill mandates transparency through annual proof-of-reserve reports, third-party audits, and congressional approval for any liquidation plans.

- If passed, the Philippines would become Asia's first nation with a government-backed Bitcoin reserve, valued at ~$1.1B, setting a potential regional precedent.

The Philippines has introduced a groundbreaking legislative proposal that would see the country's central bank, the Bangko Sentral ng Pilipinas (BSP), establish a strategic

Bitcoin
reserve of 10,000 BTC over a five-year period. House Bill No. 421, filed by Rep. Miguel Luis “Migz” Villafuerte, a member of the House Committee on Information and Communications Technology, mandates the BSP to purchase 2,000 BTC annually. The goal is to diversify the nation’s financial reserves beyond traditional assets such as gold and U.S. dollars [1].

Under the proposed law, the Bitcoin will be stored in distributed cold storage facilities to safeguard it from theft, fraud, or cyber threats. The 20-year holding period is designed to insulate the reserve from market volatility and to ensure long-term financial stability. During this time, the BSP Governor must submit annual reports to Congress using a proof-of-reserve system to maintain transparency and public trust [2].

The bill also sets strict conditions for the potential sale of the Bitcoin reserve. Only after two decades can the reserve be partially liquidated, and even then, no more than 10% of the holdings may be sold every two years. The only exception to this rule is if the proceeds are used to reduce the country’s national debt. At least one year before the holding period ends, the BSP must present its plans to Congress for approval [3].

Villafuerte has argued that the initiative is necessary to address rising national debt and to position the Philippines as a forward-thinking economy in the evolving global financial landscape. He has cited similar moves by countries such as El Salvador, Brazil, and Switzerland as justifications for the proposal [4]. The bill also aligns with broader global trends, including the U.S. Federal Reserve’s reference to Bitcoin as “digital gold” and the endorsement of similar proposals by U.S. political figures.

If passed, the Philippines would become the first country in Asia to establish an official government-backed Bitcoin reserve. The 10,000 BTC reserve is estimated to be worth approximately $1.1 billion at current prices, making it one of the largest such initiatives globally [6]. The proposal reflects a growing international recognition of Bitcoin as a strategic asset, particularly in the context of inflationary pressures and currency volatility.

To ensure accountability, the bill also mandates quarterly public reports from the BSP on the Bitcoin holdings, transactions, and custody arrangements. These disclosures will be subject to independent third-party audits, reinforcing the government’s commitment to transparency in the crypto sector [7]. This initiative follows recent regulatory actions by the Philippine Securities and Exchange Commission (SEC) to crack down on unregistered crypto exchanges, indicating a broader push toward institutional oversight in the digital asset space.

The legislation remains in the early stages of the approval process and must pass both chambers of Congress and gain presidential approval to take effect. As discussions continue, the Philippines could emerge as a global leader in the integration of digital assets into sovereign financial strategies, potentially setting a precedent for other nations in the region and beyond.

Source:

[1] Philippines considers establishing a national Bitcoin reserve (https://cryptobriefing.com/philippines-bitcoin-reserve-legislation/)

[2] Philippines Proposes Strategic Bitcoin Reserve Bill to ... (https://thecryptobasic.com/2025/08/22/philippines-proposes-strategic-bitcoin-reserve-bill-to-accumulate-10000-btc/)

[3] Philippines May Become First in Asia to Hold 10,000 BTC ... (https://coinpedia.org/news/philippines-may-become-first-in-asia-to-hold-10000-btc-national-bitcoin-reserve/)

[4] Philippine bill charts path to strategic reserve with ... (https://cointelegraph.com/news/philippine-bill-strategic-bitcoin-reserve-10000-btc)

[6] Philippines House Proposes Strategic Bitcoin Reserve (https://thedefiant.io/news/regulation/philippines-house-proposes-strategic-bitcoin-reserve-f5dd7ec6)

[7] Philippines lawmaker introduces legislation to acquire ... (https://cryptoslate.com/philippines-lawmaker-introduces-legislation-to-acquire-10000-bitcoin-for-national-security-reserve/)