Brazilian Lawmakers Consider Allocating Reserves to Bitcoin

According to PANews, the Brazilian House of Representatives recently held a hearing to discuss Bill 4501/2024, which proposes allocating up to 5% of the country's international reserves, approximately $16. 4 billion, to Bitcoin. The management of these reserves would fall under the jurisdiction of the Central Bank and the Ministry of Finance. However, the Central Bank has expressed opposition to the proposal, citing Bitcoin's high volatility and potential impact on the credibility of monetary policy source: https://www.binance.com/en/square/post/28597369914594?utm_source=BinanceNewsRSS