Philippine Congressman Proposes Establishing National Bitcoin Strategic Reserve

BlockBeats News, August 22nd, according to NLNico, Philippine Congressman Miguel Villafuerte has submitted HB 421, proposing the establishment of a Philippine Strategic Bitcoin Reserve. The proposal suggests that the Philippine Central Bank (BSP) should purchase 2,000 bitcoins annually over a period of 5 years, accumulating a total of 10,000 bitcoins to be held for 20 years without being touched, aiming to strengthen national security and debt stability.