Lawmakers and central banks worldwide explore Bitcoin as a strategic reserve asset.
Bitcoin’s rising popularity has sparked discussions among governments across five continents, with several nations exploring its adoption as a reserve asset.
• United States: A proposed bill led by Senator Cynthia Lummis seeks to establish a national Bitcoin reserve, acquiring 1 million BTC over five years. The initiative faces scrutiny over its $18 billion cost and mixed public sentiment.
• Brazil: Legislators propose allocating 5% of Brazil’s sovereign reserves to Bitcoin, aiming to stabilize the rial and hedge against geopolitical risks.
• Czechia: The Czech National Bank considers Bitcoin as part of its foreign exchange reserve diversification strategy.
• Russia: Amid sanctions, officials advocate using crypto for international settlements, signaling potential interest in reserves.
El Salvador, the first country to adopt Bitcoin as legal tender, remains the only nation with an established reserve, holding 6,022 BTC. With nine countries now exploring Bitcoin reserves, this marks a pivotal moment in global crypto adoption.
Source: Cointelegraph
