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Proposed bill would require the central bank to buy 10,000 BTC over five years.
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The Bitcoin would be locked for 20 years, only sold to repay government debt.
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Supporters see it as bold and transparent, critics warn about volatility and fiscal risks.
What the Bill Proposes
A new bill in the Philippines could establish a Strategic Bitcoin Reserve, directing the country’s central bank to buy 10,000 BTC over five years and hold it for 20 years. Known as the Strategic Bitcoin Reserve Act, it was introduced by Congressman Miguel Luis Villafuerte and requires yearly purchases of 2,000 BTC. Sales would only be allowed after the lockup period and only to pay government debt.
Why It Matters
If passed, the Philippines would become one of the first Asian nations to legislate a sovereign Bitcoin reserve through law. The proposal is designed to strengthen financial stability and position Bitcoin as a long-term, auditable asset.
Reactions From the Crypto Community
Local crypto leaders have called the bill a bold step, comparing Bitcoin to digital gold. They argue it could build transparency and accountability, since Bitcoin reserves can be publicly verified. However, concerns remain about volatility, the use of taxpayer funds, and gaps in financial literacy. Critics also say the measure could struggle to pass Congress, though it may inspire corporations to build their own reserves.
