Brazil Considers Bitcoin as Strategic Reserve for National Prosperity

According to Foresight News, a senior advisor to Brazil's Vice President, Pedro Giocondo Guerra, emphasized the importance of Bitcoin as a strategic reserve for the country's prosperity during a recent speech. He stated that discussions on establishing a Bitcoin reserve could be crucial for Brazil's future success, aligning with both national and public interests. Previously, Brazilian lawmaker Eros Biondini (PL-MG) proposed legislation to create a "Strategic Sovereign Bitcoin Reserve" (RESBit). The proposal suggests allocating 5% of Brazil's foreign exchange reserves to Bitcoin. The Central Bank of Brazil would oversee this reserve, utilizing advanced monitoring systems, blockchain technology, and artificial intelligence to manage transactions and custody.