The Congress of the Philippines has received a bill that proposes a Bitcoin treasury to boost the nation’s financial stability. The bill, introduced by Representative Migz Villafuerte under the Twentieth Congress’ First Regular Session, proposes that the central bank, Bangko Sentral ng Pilipinas (BSP), buy 10,000 Bitcoin (BTC) over a period of five years.
The plan calls for the BSP to buy 2,000 BTC each year. At current prices, the total would be about $1.1 billion. The coins would be held in a trust for at least 20 years and they could only be sold or used to retire government debt.
Villafuerte described Bitcoin in the bill as “digital gold.” He highlighted its 40% annual growth over the past five years and said the Philippines must diversify its assets to keep its finances secure.
“This representation deems it vital that the Philippines stockpile strategic assets such as BTC to serve important national interests such as providing financial stability, among others,” Villafuerte wrote in the bill. He added that the bill aims to guide the central bank in managing long-term financial assets.
Strategic Reserve and Oversight
The bill, called the “Strategic Bitcoin Reserve Act,” would also require a proof-of-reserves system. The BSP governor must report quarterly on holdings, transactions, and control of private keys. The Bitcoin Purchase Program will track these purchases and keep the reserve under long-term supervision.
This move also aligns with the Bitcoin reserve strategies adopted by other countries. Villafuerte cited El Salvador, with 6,276 BTC, and Bhutan, with 10,565 BTC, as examples of how Bitcoin can support national finances.
According to experts, a Bitcoin reserve could help the Philippines limit the impact of inflation and keep its finances steady. It could also lead the government to include cryptocurrency in its financial plans. Lawmakers are watching closely as the proposal moves through Congress.
The bill could set a new example for Southeast Asia. Treating Bitcoin as a strategic asset may help the Philippines manage debt, stabilize its economy, and increase its influence in global cryptocurrency markets.
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