Brazil Considers Adding Bitcoin to National Reserves

A high-ranking official from President Lula's administration has voiced support for adding Bitcoin to Brazil's national reserves. Pedro Giocondo Guerra, chief of staff to Vice President Geraldo Alckmin, made these comments during a recent congressional event, describing the potential move as valuable for the country's financial future, according to local media reporting.

Guerra compared Bitcoin to digital gold, suggesting it could serve as both a stable asset and a tool to accelerate international money transfers. His remarks supported a new proposal called "RESBit," which aims to establish an official Bitcoin stockpile for the nation.

The bill, created by Deputy Eros Biondini, proposes allocating up to 5% of Brazil's foreign reserves to Bitcoin. Under the plan, the Central Bank would monitor these holdings using blockchain tracking and AI verification systems.

The proposal outlines three main objectives:

• Protecting the economy from financial shocks
• Diversifying Brazil's investment portfolio
• Supporting the upcoming launch of DREX, Brazil's digital currency

Brazil has already shown openness to cryptocurrency. It was the first country in the Americas to approve spot Bitcoin ETFs, with trading volumes showing significant growth. The country even launched a Solana ETF last year.

This is not Brazil's only crypto-friendly legislation under consideration. Federal Deputy Luiz Philippe de Orleans e Bragança recently introduced bill PL 957/2025, which would allow employers to pay up to 50% of salaries in cryptocurrencies while keeping the remainder in Brazilian real.

If the bill passes, Brazil would join El Salvador in making a major governmental commitment to cryptocurrency. However, the proposal faces several hurdles before reaching President Lula's desk, including approval from multiple committees and both houses of government.

Critics point to Bitcoin's price volatility and security concerns as major risks for a national reserve asset. Supporters counter that Bitcoin could help Brazil fight inflation and reduce dependence on the U.S. dollar, potentially increasing financial autonomy.

The trend extends beyond Brazil. The United States has stopped selling seized Bitcoin, choosing instead to hold it as a reserve asset. Venezuela and Colombia are also exploring cryptocurrency integration. With 16% of Brazilian citizens already using cryptocurrency, some view this potential policy as a natural progression.