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- A new bill seeks to build a 10,000 BTC reserve for the Philippines.
- The reserve will remain locked for 20 years except for debt repayment.
- The plan aligns the country with other nations holding bitcoin.
A Philippine lawmaker has introduced a new proposal that could reshape the country’s financial strategy. Congressman Miguel Luis Villafuerte filed House Bill 421, which directs the Bangko Sentral ng Pilipinas to purchase 2,000 bitcoin every year for five years. This measure would create a national reserve of 10,000 BTC.
The funds would remain in cold storage on a tight 20-year lockup. The legislation lays down specific restrictions. The central bank would neither be able to sell nor transfer the holdings during the lockup. The exception would be the repayment of government debt.
After the 20 years, the central bank governor would still face limits. The governor could not sell more than 10 percent of the holdings within any two-year period. These rules aim to protect the long-term strength of the reserve.
Philippines Eyes Long-Term Bitcoin Accumulation
The proposal highlights the growing global role of bitcoin. Villafuerte stressed that digital assets now influence financial power across nations. By building a national reserve, the Philippines would signal its commitment to innovation and financial resilience.
The approach could also act as a hedge against global market shifts and currency risks. If approved, the move would place the country alongside other bitcoin-adopting nations. El Salvador, for instance, holds bitcoin as part of its national policy. Bhutan has also invested in mining and reserves.
The Philippines would enter the same discussion, though with a unique model centered on long-term accumulation. Governments worldwide are slowly increasing their bitcoin holdings. According to available data, sovereign wallets already store more than 517,000 BTC.
That figure equals nearly 2.5 percent of the total bitcoin supply. Large economies like the United States and China lead this group, often through confiscated assets. The Philippines plan would stand out as a deliberate and structured purchase program.
Lawmakers Push Bitcoin Into Financial Strategy
A locked reserve could serve several purposes for the Philippines. It may strengthen national balance sheets, attract investment, and support confidence in the country’s financial system. The 20-year timeline suggests a strategy beyond short-term gains. Instead, it points to intergenerational planning and debt management.
The proposal also raises questions about implementation. Securing and storing such a large amount of bitcoin would require strong custody measures. The central bank would need to ensure that the assets remain protected against cyber threats. Clear auditing rules would also be necessary to build public trust.
House Bill 421 will now move through the legislative process. If approved, it will mark a historic decision in the country’s financial policy. It could also spark broader discussions across Southeast Asia on how digital assets fit into national reserves.
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