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A Philippine lawmaker has filed a bill seeking to create a government-managed strategic reserve of Bitcoin (BTC), positioning the cryptocurrency alongside traditional reserves such as gold and foreign currency to bolster financial stability.
House Bill No. 421, introduced by Congressman Miguel Luis Villafuerte on June 30, 2025, proposes the establishment of a Strategic Bitcoin Reserve to be managed by the Bangko Sentral ng Pilipinas (BSP). The plan calls for the purchase of 2,000 BTC annually over five years, for a total of 10,000 BTC, to be held in trust for at least 20 years.
The explanatory note of the bill cites Bitcoin’s role as “digital gold” and highlights examples of other countries adopting similar approaches, including El Salvador, which made BTC legal tender in 2021, as well as initiatives in Switzerland, Brazil, and Russia.
“While the Philippines holds dollar and gold reserves, the increasing significance of BTC in ensuring financial and economic prowess across continents makes it imperative for the country to take significant legislative measures,” the bill said, pointing to the country’s rising sovereign debt, which reached 16.09 trillion pesos ($275 billion) as of November 2024.
The proposed reserve would be placed under cold storage facilities across the country to mitigate risks of compromise, with the BSP Governor tasked to oversee its safekeeping and report annually to the public through a “proof of reserve system.” The measure also prohibits the immediate sale of Bitcoin acquired, barring disposal for at least two decades.
Other jurisdictions, including Malaysia, Thailand, and Hong Kong, have considered strategic BTC reserves, the bill noted, while Russia has begun using digital assets in international trade to reduce reliance on the U.S. dollar.
The measure comes amid renewed debate over the role of cryptocurrencies in national economies. In December, the U.S. Federal Reserve described Bitcoin as “digital gold,” while institutional investors have accelerated adoption through exchange-traded funds.
If passed, the Philippines would become the first country in Asia to legislate a dedicated government-run Bitcoin reserve.
This article was made with the assistance of AI.
This article is published on BitPinas: Bitcoin Strategic Reserve Bill Filed in Philippine Congress
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