Philippine lawmakers propose establishing a national Bitcoin strategic reserve

ChainCatcher news, according to NLNico, Philippine Congressman Migz Villafuerte has submitted HB 421, a bill proposing the establishment of a strategic Bitcoin reserve for the Philippines.

The proposal suggests that the Bangko Sentral ng Pilipinas (BSP) purchase 2,000 Bitcoins annually over 5 years, accumulating a total of 10,000 Bitcoins, and hold them for 20 years, aiming to strengthen national security and debt stability.