Brazilโs legislators will hold a hearing on the potential inclusion of Bitcoin in the nationโs sovereign reserves.
Summary
- Brazilโs Chamber of Deputies will hold a hearing on making Bitcoin a reserve asset
- The Economic Development Committee will hear experts from government, banking, etc
Brazil may soon become one of the countries that holds Bitcoin (BTC) as its reserve asset. On August 20, the Economic Development Committee of the Chamber of Deputies will discuss the potential creation of a sovereign Bitcoin strategic reserve.
Representative Luiz Philippe de Orleans e Braganรงa requested the debate on Bill 4501/24, proposing the creation of a โstrategic sovereign reserve of Bitcoin.โ He explained that the intention was to gather technical insights from various government agencies.
โWe understand that it is essential to gather the monetary authorityโs technical perspective on this bill with a view to improving the text,โ said the Representative. He also added that he wants to hear from government officials, bankers, and other experts in this domain.
The debate will also focus on improving the proposed text of the bill. The representative also claimed that the bill aligns with Brazilโs current regulatory framework on digital currencies, introduced in December 2022.
Brazil pushes for Bitcoin adoption
Representative Luiz Philippe de Orleans e Braganรงa, who proposed the Bitcoin reserve bill, is a descendant of Brazilโs former royal family and a crypto advocate. In March, he proposed a bill that would allow Brazilian employees to request up to 50% of their salary in crypto.
Brazil is one of several countries that are currently exploring creating a Bitcoin strategic reserve. For instance, in early August 2025, Indonesian authorities met with crypto advocates to talk about a strategic reserve.
Advocates of sovereign Bitcoin reserves stress its potential as a hedge against inflation and geopolitical risk. However, critics highlight Bitcoinโs volatility.
