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.
Representative Migz Villafuerte filed the “Strategic Bitcoin Reserve Act” in June, calling for the country’s central bank, Bangko Sentral ng Pilipinas (BSP), to purchase 2,000 Bitcoin (BTC) annually over five years.
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.
Bid for financial security
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.
Global context
If enacted, the Philippines could surpass El Salvador’s 6,276 Bitcoin holdings and rival Bhutan, which owns about 10,565 coins.
El Salvador has
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Author: Assad Jafri
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