Authored by Micah Zimmerman via BitcoinMagazine.com,

Brazilian lawmakers have reintroduced a bill to create a national Strategic Sovereign Bitcoin Reserve, known as RESBit, proposing the gradual acquisition of one million bitcoins over five years. 

The bill, presented by Federal Deputy Luiz Gastão (PSD/CE), outlines a comprehensive framework to integrate Bitcoin into the country’s financial strategy and diversify national reserves.

The proposed legislation establishes several guidelines for RESBit.

First, the plan calls for a gradual accumulation of at least 1,000,000 BTC over five years.

It prohibits the sale of bitcoins seized by Brazilian judicial authorities, ensuring that these assets remain within public control. 

The bill also allows for the collection of Brazil’s federal taxes in Bitcoin and offers incentives for public companies to engage in Bitcoin mining and storage.

Transparency is a central feature of the proposal. The bill mandates public disclosure of RESBit’s bitcoin holdings through internet-based platforms, enabling auditing by the public.

It emphasizes secure storage of digital assets using technologies such as cold wallets, multisignature wallets, and other internationally recognized mechanisms.

In addition, the legislation permits temporary holdings of spot ETFs backed by bitcoin in the reserve portfolio, subject to urgent and limited circumstances.

If approved, Brazil could join a small group of countries actively holding Bitcoin at a national level, potentially surpassing major holders like the United States and China. 

Quite famously, El Salvador holds the mantle as the ‘world’s first country’ with a strategic Bitcoin reserve, reporting over 7,560 Bitcoin under President Nayib Bukele’s program.

Despite scaling back mandatory Bitcoin acceptance under IMF agreements, the government has maintained regular purchases, citing long-term financial sovereignty and reserve diversification. The National Bitcoin Office now splits holdings across multiple addresses to bolster security and transparency.

The Central American nation’s approach has inspired policymakers worldwide. In the United States, the BITCOIN Act of 2025 proposed somewhat of a federal strategic Bitcoin reserve, while several states, including New Hampshire and Arizona, have passed or proposed laws allowing portions of public funds to be invested in digital assets.

President Trump’s March 2025 executive order further directed federal agencies to explore Bitcoin accumulation from seized assets without new taxpayer costs.

In Europe, the Czech National Bank has a similar allocation in bitcoin, while Switzerland sees a citizen-led initiative proposing a constitutional mandate for Bitcoin holdings. 

Hong Kong, Ukraine, and Pakistan are also exploring frameworks to hold Bitcoin at the national level, with Pakistan pledging never to sell its future reserves.