Brazil to hold a public hearing on August 20 to discuss creating a Strategic Bitcoin Reserve

The first official Brazilian debate on whether a Strategic Bitcoin Reserve should be established will be held on August 20, 2025. This hearing will be held in the Chamber of Deputies in Brasilia’s capital. It will address Bill 4.501/2024, which suggests the addition of Bitcoin to the national reserve, which will be under state jurisdiction. 

“Requests the holding of a public hearing with the objective of debating PL 4501/2024, which provides for the formation of a Sovereign Strategic Reserve of Bitcoins by the Federal Government and provides other measures.”

Federal deputy Luiz Philippe de Orleans e Bragança

The proposal was first introduced by Deputy Eros Biondini in November 2024 and was subsequently posted to the Economic Development Commission. Deputy Luiz Philippe de Orleans e Braganca had called the hearing publicly later in June, and this is now to be met by the scheduled session on August 20. The bill demands that the Brazilian Treasury begin diversifying its asset holdings by purchasing Bitcoin (BTC) and other cryptoassets that are considered secure.

The event will be open to experts and the public, giving key figures a platform to present their views on the potential benefits of holding Bitcoin in government reserves. Brazil, the ninth-biggest economy in the world, has a foreign exchange reserve of nearly $341 billion. If this bill is passed, 5% of these reserves, or $17 billion, will be channeled into Bitcoin. This would make Brazil the world’s largest holder of Bitcoin reserves, replacing countries such as El Salvador, the U.K., and Bhutan.

Brazil’s move to discuss Bitcoin integration aligns with its growing commitment to digital assets. In June 2023, the country implemented a legal framework that empowers its central bank to regulate and oversee virtual asset service providers. The new framework also clarifies the Securities and Exchange Commission’s authority over tokens considered securities.

Brazil’s growing crypto landscape

The Brazilian crypto environment is already robust. The country became a leader in the Americas in authorizing spot cryptocurrency ETFs. Brazil currently has a variety of investment options within the cryptocurrency industry. 

These are FOMO11, which measures sentiment on the market; DEFI11, which combines a selection of DeFi tokens; and HASH11, the most traded ETF in Brazil. Also, a Solana spot ETF was authorized in August 2024, boosting Brazil to an even higher standing.

The next steps of the Brazilian Bitcoin Reserve will rely upon the conclusion of the open hearing on August 20. If the Economic Development Commission passes the bill, it will then be passed to Congress and can eventually be signed by the President. 

Global Bitcoin Reserve adoption

Brazil is not alone in considering a national Bitcoin reserve. Several other nations have also moved to integrate Bitcoin into their financial frameworks.

The ongoing discussions come at a time when other nations are also looking into similar plans. An example is the United States, which has been considering the formation of a strategic reserve of Bitcoin, as recent remarks by Bo Hines, Digital Assets Director of the U.S. Department of the Treasury, have suggested. Similar to Brazil, the U.S. has to balance regulatory issues with the possible financial advantages of Bitcoin as a part of reserves.

In 2021, El Salvador became the first nation to make Bitcoin a legal tender. The government is also reported to have earned tremendously through Bitcoin possession, and it has not stopped its daily routine of buying one Bitcoin each day.

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