Philippines Considers 10,000 BTC Strategic Reserve
The Congress of the Philippines is reviewing a proposal to establish a national reserve of 10,000 Bitcoin (BTC). This initiative, the "Strategic Bitcoin Reserve Act," would see the Bangko Sentral ng Pilipinas (BSP) acquire 2,000 BTC annually over five years.
The acquired Bitcoin would be locked for a minimum of 20 years, with the central bank required to provide quarterly public reports on holdings and transactions, including proof of private key control. This move would position the Philippines as a significant national holder of Bitcoin, surpassing El Salvador's current reserves.