tldr; Philippines Congressman Miguel Luis Villafuerte has proposed House Bill 421, which would require the central bank to purchase 2,000 Bitcoin annually for five years, creating a 10,000 BTC reserve. The Bitcoin would be held for at least 20 years, with sales allowed only to retire government debt. Villafuerte argues Bitcoin can diversify the nation’s reserves beyond gold and US dollars, strengthening financial security. If passed, the Philippines would be the first Asian country to legislate a sovereign Bitcoin strategy.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
utilizatoru on
10K BTC locked 20 years, that’s sovereign conviction
dmx442 on
Slowly and steady, they flock to BTC
BTC is inevitable
No-Transition7298 on
As a Filipino, this is a good stance in fighting the nation’s poverty and inflation.
If this falls into the right hands, this may build economic strength (jobs, reserves and such).
However, our nation is „notorious“ on nationwide corruption. From top to bottom, it’s in our core. I really hope that mindset will be changed eventually as we shift our focus to digital assets.
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tldr; Philippines Congressman Miguel Luis Villafuerte has proposed House Bill 421, which would require the central bank to purchase 2,000 Bitcoin annually for five years, creating a 10,000 BTC reserve. The Bitcoin would be held for at least 20 years, with sales allowed only to retire government debt. Villafuerte argues Bitcoin can diversify the nation’s reserves beyond gold and US dollars, strengthening financial security. If passed, the Philippines would be the first Asian country to legislate a sovereign Bitcoin strategy.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
10K BTC locked 20 years, that’s sovereign conviction
Slowly and steady, they flock to BTC
BTC is inevitable
As a Filipino, this is a good stance in fighting the nation’s poverty and inflation.
If this falls into the right hands, this may build economic strength (jobs, reserves and such).
However, our nation is „notorious“ on nationwide corruption. From top to bottom, it’s in our core. I really hope that mindset will be changed eventually as we shift our focus to digital assets.