Brazil Is Eyeing a Strategic Bitcoin Reserve That Could Be Worth $17.2 Billion

• Brazil’s Congress will hold a public hearing to debate PL 4501/2023.

• The bill proposes creating RESbit, a sovereign Bitcoin reserve.

• Up to 5% of Brazil’s foreign exchange reserves could be allocated to BTC.

Brazil could be on its way to becoming a Bitcoin powerhouse. This week, the South American nation announced that it will be holding a public hearing at the congress to discuss the creation of a strategic Bitcoin reserve. 

The debate revolves around the PL 4501/2023 bill, which proposes the creation of RESBiT, using up to 5% of Brazil’s foreign exchange reserves to acquire Bitcoin. The public hearing is scheduled for August 20, with Congressman Luiz Philippe de Orleans e Bragança — who formally requested the session — set to lead the discussion. 

Participants yet to be confirmed include the Brazilian Association of CriptoEconomy (Abcripto), representatives from the Central Bank of Brazil, and Diego Kolling, Head of Bitcoin Strategy at Méliuz, South America’s largest corporate holder of Bitcoin.

If the bill gets turned into law, Brazil would be on its way to becoming one of the largest governmental Bitcoin holdings in the world. 

As of June 2025, Brazil’s total foreign exchange reserves stand at approximately $343.95 billion. An allocation of 5% of that amount into Bitcoin would mean a governmental Bitcoin treasury of $17.2 billion. According to BitBo, this would put Brazil ahead of countries like the U.K. and Germany in the rankings for largest Bitcoin holdings, only behind the U.S. and China.