Philippine Lawmaker Pushes Bitcoin Reserve Bill, Calls for 10,000 BTC National Stockpile

TLDR:

• Philippine Congressman Villafuerte filed House Bill 421 proposing a 10,000 Bitcoin reserve to safeguard economic and debt stability.
• The bill tasks Bangko Sentral ng Pilipinas to purchase 2,000 BTC annually for the next five years.
• Bitcoin acquired under the proposed reserve would be locked for 20 years as a national security measure.
• The initiative positions the Philippines among the first nations to formally consider a state-managed Bitcoin reserve.

The Philippines could soon take a new path in digital finance. A fresh bill has been introduced in Congress that calls for the creation of a Bitcoin reserve. Lawmakers are considering whether cryptocurrency could play a role in strengthening national security. 

The proposal points to using Bitcoin as a hedge against debt challenges and economic risks. Debate is now opening on how far the country will go in adopting crypto into state policy.

House Bill 421 and the Push for a Bitcoin Reserve

Congressman Migz Villafuerte filed House Bill 421, titled the “Philippine Strategic Bitcoin Reserve Act,” according to legislative records. 

The measure directs the Bangko Sentral ng Pilipinas (BSP) to acquire 2,000 Bitcoin each year. Purchases would continue for five years, reaching a total of 10,000 BTC.

The reserve would then be locked for two decades, with no sales or transfers permitted during that period. The bill frames this long-term holding strategy as a safeguard for economic stability and debt protection.

Wu Blockchain noted the filing on social media, pointing out that it is one of the first proposals of its kind in Asia. By linking debt management with cryptocurrency, the plan sets a precedent not seen in previous Philippine financial legislation.

Supporters argue that locking the reserve for 20 years would help shield the country from volatile price swings in the short term. The plan relies on the expectation that Bitcoin will hold value or increase over the long run.

Implications for Crypto and Philippine Policy

If passed, the measure would place the Philippines in rare company among nations exploring direct Bitcoin holdings. 

El Salvador remains the only country with a confirmed state Bitcoin program. The proposed Philippine plan differs, however, by embedding strict purchase targets and lock-up periods.

The BSP would play a central role, executing purchases and managing the custody of the coins. 

Oversight would fall under a national committee to ensure transparency in the reserve. This structured approach signals an attempt to fit crypto into existing financial systems rather than operate outside them.

Analysts are watching closely to see whether the bill gains traction in committee hearings. Debate may arise around funding sources, as acquiring thousands of Bitcoin would require large allocations from the national budget.

While the bill has only just been filed, it has already attracted attention across crypto communities. Investors and policy watchers are now looking for signs of how lawmakers will respond to this proposal.

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