Brazil’s lower house is advancing landmark legislation—for the first time in a G20 nation—to hold Bitcoin as part of national reserves. The proposed bill, known as RESBit (Reserva Estratégica Soberana de Bitcoins), was introduced by Congressman Eros Biondini in November 2024 and recently passed its first committee in June 2025.
If enacted, RESBit would allow Brazil to gradually allocate up to 5% of its international reserves—estimated at US $370 billion—into Bitcoin, amounting to approximately US $18 billion. This move aims to diversify holdings, reduce exposure to currency volatility, and mitigate geopolitical risks. Commercial analysts argue that it could also underpin Brazil’s central bank digital currency, Drex.
Under the bill, the Central Bank of Brazil, together with the Ministry of Finance, would manage all Bitcoin acquisitions. Key safeguards include cold‑storage custody, semi‑annual independent audits, and real‑time monitoring using blockchain and artificial‑intelligence systems. A technical advisory committee composed of cybersecurity and financial experts would guide the process.
Supporters—including senior officials in the vice-president’s office—have described Bitcoin as “digital gold.” They believe RESBit could boost Brazil’s financial resilience and align its finance policy with global innovation trends.
Critics, however, warn of Bitcoin’s notorious price volatility and the risks of holding crypto in public reserves. Debates over legal compliance, market timing, and institutional readiness continue in the legislature.
RESBit now faces further scrutiny in committees on technology, finance, and constitutional matters. If it passes the lower house, it must win approval in the Senate and receive presidential assent before becoming law.
This initiative builds on Brazil’s broader effort to regulate digital assets responsibly. In June 2023, Brazil enacted legislation recognizing crypto assets as legal instruments and granted the Central Bank authority to oversee virtual‑asset service providers, while Brazil’s equivalent of the Securities Commission maintains jurisdiction over security‑token matters.
Globally, the move could mark a turning point. While El Salvador became the first country to make Bitcoin legal tender in 2021, Brazil’s approach would embed Bitcoin within its formal reserve strategy—establishing a precedent for major economies.
