According to Mars Finance, on August 22, NLNico reported that Philippine Representative Migz Villafuerte has filed HB 421, a bill proposing the establishment of a Philippine Strategic Bitcoin Reserve. The proposal calls for the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 Bitcoins annually over five years, reaching a cumulative holding of 10,000 Bitcoins, which would be held for 20 years. The proposal aims to strengthen national security and debt stability.
Philippine lawmakers propose establishing a national strategic Bitcoin reserve
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