The Philippines is moving to establish a national strategic Bitcoin reserve with the introduction of the Strategic Bitcoin Reserve Act by Congressman Miguel Luis Villafuerte. If passed, the bill would direct the Bangko Sentral ng Pilipinas (BSP) to acquire 10,000 BTC over a five-year period, positioning the country as one of the largest state-level holders of cryptocurrency.
House Bill No. 421, filed on August 22, 2025, outlines a plan to purchase 2,000 BTC annually. The legislation includes a strict 20-year minimum holding period, with any future sales limited to a maximum of 10% over two years, and only for the purpose of retiring sovereign debt. The bill's supporters, citing the country's $285 billion debt, argue that diversifying reserves beyond traditional assets like the US dollar and gold is essential for national financial stability.
The proposed reserve would be held in secure cold storage facilities with oversight from the BSP governor and other government agencies. It would also be subject to mandatory quarterly proof-of-reserve audits to ensure public transparency. The bill also explicitly confirms the right of private citizens and businesses to hold and trade Bitcoin.
This move places the Philippines in a growing group of nations, including El Salvador and Bhutan, that are accumulating Bitcoin as a state asset. At current prices, the proposed 10,000 BTC reserve would be valued at over $1.1 billion, potentially placing the Philippines' holdings ahead of El Salvador's.
August 2025, Cryptoniteuae