A key official in the Brazilian president’s administration stated that a well-planned Bitcoin strategic reserve would be “crucial for our prosperity” and “in the public’s interest.” Guerra, representing the executive branch, made these remarks during a congressional commemoration, with Alckmin also involved in the discussion.
As reported by local media outlet Poder 360, Guerra referred to Bitcoin as “digital gold, the gold of the internet,” highlighting its ability to facilitate seamless wealth transfer across the globe and serve as an excellent store of value for hard-earned income. This statement underscores the Brazilian government’s growing interest in the global Bitcoin market, particularly as more nations embrace the cryptocurrency.
Shortly before, Guerra remarked on the contradiction of a government that invests in promoting cryptocurrencies like Bitcoin while simultaneously attempting to regulate their trade. His comments were in response to Deputy Eros Biondini (PL-MG), who had earlier proposed legislation advocating for the establishment of a ‘Strategic Sovereign Bitcoin Reserve’ (Reserve de Borg).
This proposal mandates the state to acquire Bitcoin until it accounts for 5% of the nation’s international reserves. The Brazilian Central Bank would oversee its custodianship, managing these assets through advanced supervised systems and monitoring them using blockchain technology.
As Brazil considers its stance on Bitcoin, the discussions signal a potential shift toward integrating cryptocurrency into national financial policies, reflecting a broader global trend of increasing Bitcoin adoption.
