Bitcoin is flying high – these countries are considering a national reserve.

Some countries are considering national bitcoin reserves in recent weeks, amid a historic market rally that has pushed the world's largest cryptocurrency to new highs.

US President-elect Donald Trump and his allies have repeatedly thrown their support behind a bill to stockpile the Federal Reserve, and they will soon be ready to make it happen.

Government officials in Brazil have enacted legislation to recognize that opportunity Politicians in Poland and Russia have backed the idea of ​​adding digital currency to their country's balance sheet.

On this front, El Salvador has led the charge, slowly accumulating BTC for its own reserves since 2021 and making bitcoin legal tender — and now that the asset has risen to $100,000, President Bukele is taking a victory lap.

While it's unclear whether other countries will soon be able to stockpile Bitcoin, one thing is clear: interest in holding the token as a reserve asset has reached fever pitch. Here is who is considered the national Bitcoin reserve.

united states

Several US lawmakers have pushed to establish a systematic bitcoin reserve.

Wyoming Senator Cynthia Lammis announced last spring A bill called the Bitcoin Act That would require the US to acquire up to 200,000 bitcoins per year over a five-year period, or 5 percent of the token's total supply.

Bitcoin will be held in a “decentralized Bitcoin storage network managed by the United States Department of the Treasury.” Token purchases are being made in a variety of Federal Reserve currencies such as bonds, mortgages, and gold.

President-elect Donald Trump at the same time The “Strategic Bitcoin Reserve” has been approved” last July at BTC 2024 in Nashville—one of many such crypto-related promises he is expected to honor once in office.

“It will be the policy of my administration to keep 100% of the bitcoins that the US government currently owns or acquires,” Trump said at the event.

Brazil

The Brazilian government has proposed a bill to green-light a national bitcoin reserve.

As planned, the Sovereign Strategic Reserve of Bitcoins (RESBit) will hold 5% of Brazil's global reserves. LawRegistered on November 25. It aims to diversify Brazilian treasury assets.

Incorporating bitcoin into the treasury will reduce Brazil's exposure to currency fluctuations and geopolitical risks, increasing economic strength, federal deputy Eros Biondini said in the draft.

According to the proposal, the Central Bank of Brazil will manage the Bitcoin reserves in cooperation with the Ministry of Finance. Those funds will be used to support DREX, a Brazilian CBCC. According to the bill, Bitcoin is stored in a cold wallet.

Poland

Polish presidential candidate Sławomir Mentzen has argued for the creation of a strategic Bitcoin reserve as well as the adoption of crypto-friendly laws and regulations in Poland.

“If I become the president of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes and a supportive approach of banks and regulators,” Mentzen said. he said. In a recent post on X (formerly known as Twitter).

“It's time for Polish politicians to look to the future,” the politician said he said. In another X post.

In the elections held in the Eastern European country, the far-right nationalist candidate came third. It is unclear whether Mentzen's political opponents support the creation of a strategic bitcoin reserve.

Russia

Several Despite the opposition of Anatoly Aksakov, the chairman of the Russian State Duma Committee, this month Russian lawmakers proposed to create a “crypto” reserve in the “State Treasury”.

They also passed legislation legalizing crypto-mining and the use of digital assets for international payments this fall.

Russia's latest move on crypto suggests that the Eastern European country may revisit the issue of strategic Bitcoin reserves, which at least one of its top officials has previously expressed support for.

In 2021 Interview Speaking to Russian news network Interfax, Deputy Foreign Minister Alexander Pankin said the country is open to partially replacing the reserves and trade settlements backing the US dollar with other currencies, including cryptocurrencies.

Russia may replace the US dollar with various national currencies as well as “in the future, perhaps … some digital assets,” Pankin told the newspaper.

Edited by Andrew Hayward and Sebastian Sinclair