Brazil’s legislative committee has advanced a bill to allocate up to 5% of the country’s national reserves to Bitcoin, marking a significant step towards institutional adoption of cryptocurrencies by a major economy.
This move is part of a broader trend where nations are considering Bitcoin as a strategic asset to diversify reserves and hedge against economic risks, potentially influencing global financial policies.
The bill’s progression reflects growing recognition of Bitcoin’s role in the digital economy, despite its volatility, and could set a precedent for other countries, especially within the G20, to follow suit.
