In Brazil, discussions are underway regarding the potential inclusion of Bitcoin in the country's sovereign reserves. Pedro Guerra, a key advisor to Vice President Geraldo Alckmin, has advocated for this move, citing Bitcoin's resilience and potential benefits for Brazil's financial strategy.
Guerra's support aligns with a 2024 bill proposed by Congressman Eros Biondini. This bill suggests authorizing the Central Bank of Brazil and the National Treasury to acquire Bitcoin alongside traditional assets like gold and foreign currency. Biondini's bill aims to diversify Brazil's treasury assets and protect against economic uncertainties.
The proposal involves allocating up to 5% of Brazil's international reserves to Bitcoin. If approved, the Central Bank and Ministry of Finance would manage the Bitcoin reserve, employing advanced monitoring technologies. The current Bitcoin price is around $84,477.04.