Countries Eye National Bitcoin Reserves as Prices Soar Towards $100K

As Bitcoin makes a significant leap towards $100,000, several nations are considering establishing a national stockpile of the leading cryptocurrency. Here's a closer look at who is contemplating this bold move.

United States

Several U.S. lawmakers are pushing to create a strategic Bitcoin reserve. Senator Cynthia Lummis introduced a bill called the "Bitcoin Act," proposing that the U.S. acquire 200,000 Bitcoin annually over five years, which would amount to 5% of the total supply. The plan involves storing Bitcoin in a decentralized network of secure vaults managed by the U.S. Department of Treasury. President-elect Donald Trump has also expressed support for a strategic stockpile, vowing to keep 100% of any Bitcoin acquired by the government.

Brazil

Brazil's government has proposed legislation to establish a national Bitcoin reserve called the Sovereign Strategic Reserve of Bitcoins (RESBit), aiming to account for 5% of the country’s international reserves. This initiative seeks to diversify Brazil's Treasury assets and mitigate exposure to exchange rate fluctuations and geopolitical risks.

Poland

In Poland, presidential candidate Sławomir Mentzen has advocated for a strategic Bitcoin reserve and the implementation of crypto-friendly regulations. He envisions Poland becoming a cryptocurrency haven with low taxes and supportive policies.

Russia

Russian legislators have recently suggested creating a crypto reserve in the state treasury, despite some opposition. The country has already passed legislation to legalize crypto mining and the use of digital assets for international payments, indicating a shift towards considering a strategic Bitcoin reserve.

With Bitcoin's increasing value and adoption, the interest in holding it as a reserve asset is undeniably growing. Countries like the U.S., Brazil, Poland, and Russia are paving the way for a future where Bitcoin may play a crucial role in national financial strategies.