A Philippine lawmaker has introduced a measure that would require the central bank to build a strategic Bitcoin reserve, marking one of the most ambitious crypto policy proposals in Southeast Asia.
At current prices, the plan would cost more than $1.1 billion and establish a 10,000 BTC reserve locked in trust for at least two decades.
The proposal outlines a “Bitcoin Purchase Program” that would make the BSP a long-term holder of the digital asset. The reserve would be barred from being sold or transferred except in cases of retiring government debt.
Villafuerte described Bitcoin as a modern strategic asset that could diversify the nation’s balance sheet and enhance financial security, likening it to digital gold.
The measure would also require the central bank to introduce a proof-of-reserves system, with quarterly public disclosures detailing holdings, transactions, and custody arrangements.
The bill faces congressional debate in the months ahead as policymakers weigh the risks and potential benefits of tying a portion of the nation’s financial future to the volatile crypto market.
