Philippine lawmakers propose establishing a national strategic Bitcoin reserve: plans to purchase 2,000 BTC annually for 5 years

According to NLNico, citing HB 421 filed by Philippine Congressman Miguel Luis R. Villafuerte, the Philippines plans to purchase 2,000 Bitcoins annually for five years through the Bangko Sentral ng Pilipinas (BSP), totaling 10,000 Bitcoins. These Bitcoins will be stored for 20 years to enhance national security and stabilize the debt structure. The bill aims to ensure financial stability by establishing a strategic Bitcoin reserve and diversifying asset allocation, addressing the growing role of cryptocurrencies in the global financial system.