Brazil calls for "buy 1 million Bitcoins in five years"! The House of Representatives introduces the RESBit proposal to establish a national strategic BTC reserve

Brazilian House of Representatives Unveils Shocking Proposal: Planning to Accumulate at Least 1 Million Bitcoins Over the Next 5 Years to Create a National-Level “Strategic Bitcoin Reserve” (RESBit), Approaching the Scale of the World’s Largest Government Holdings.
(Background: Brazil’s “Bitcoin Reserve Bill” Passes Preliminary Review, Approaching 5% of Forex Reserves ($18 Billion) for BTC Purchase)
(Additional Context: Brazil’s Largest Private Bank Itaú Unibanco Recommends a Maximum Allocation of 3% Bitcoin, with Small Long-Term Holdings to Hedge Risks)

Table of Contents

• Background and Legislative Process
• Core Content and Main Provisions
• Potential Impact and Global Context

The Economic Development Committee of Brazil’s Chamber of Deputies recently submitted an alternative bill named RESBit (Strategic Sovereign Bitcoin Reserve), which significantly expands upon the original PL 4501/2024. The proposal aims to accumulate at least 1 million bitcoins (BTC) over five years through planned, gradual purchases as a strategic national reserve asset.

Background and Legislative Process

The proposal originates from the original bill PL 4501/2024 introduced in November 2024 by Congressman Eros Biondini, initially suggesting including Bitcoin in the national reserves with a cap of 5% of foreign exchange reserves. After review by the Economic Development Committee, Rapporteur Luiz Gastão submitted an alternative in February 2026, substantially increasing the target scale.

Currently, the alternative bill has been officially published on the Brazilian Chamber of Deputies’ website. It is in the committee stage, requiring further debate and voting, and must be approved by the full chamber, the Senate, and signed by the president to become law.

Core Content and Main Provisions

The core goal of this alternative bill is to establish a BTC reserve, aiming to accumulate at least 1 million bitcoins within five years. Based on current Bitcoin prices (approximately $68,000), this scale would require an investment of about $68 billion.

Other key provisions include:

• Prohibiting the sale of bitcoins seized by judicial authorities, reinforcing long-term holding.
• Allowing Bitcoin payments for federal taxes, increasing practical applications.
• Providing tax incentives or other support for Bitcoin mining and holding companies.
• Emphasizing user self-custody rights and free transfers to protect digital asset owners.
• Potentially involving capital gains tax exemptions, demonstrating a crypto-friendly regulatory stance.
• Transfer of reserve management to the Ministry of Finance, employing security measures such as cold wallets and multi-signature technology to ensure transparency and risk mitigation.

Potential Impact and Global Context

If passed, Brazil could position itself at the forefront of the global “national HODL” trend, surpassing current holdings by the U.S. government and China. This could also stimulate other emerging markets to follow suit, creating a global wave of national Bitcoin reserves.

For the Bitcoin market, gradually acquiring 1 million BTC over five years would not only generate significant buying pressure but also reduce circulating supply, potentially supporting Bitcoin’s price long-term.

However, achieving this vision faces challenges: funding would need to come from foreign exchange reserves or new budgets; current regulations do not recognize Bitcoin as a reserve asset; and political consensus and regulatory hurdles remain substantial. Some analysts suggest that the short-term probability of Brazil fully reaching this goal is low, even if partial progress would carry symbolic significance.