Philippines Considers Building 10,000 BTC Reserve Under New Bill

     

Proposed law would see central bank accumulate Bitcoin as a long-term strategic asset

Lawmakers in the Philippines are considering a groundbreaking proposal that would require the country’s central bank to establish a reserve of 10,000 Bitcoin over the next five years. The measure, if passed, would make the Philippines one of the first Southeast Asian nations to formally treat Bitcoin as a national strategic holding.

The bill, introduced by Camarines Sur Representative Migz Villafuerte, directs the Bangko Sentral ng Pilipinas (BSP) to acquire 2,000 BTC annually and lock the assets in a trust for at least 20 years. The Bitcoin could not be sold or exchanged, except in cases where it would be used to settle government debt. Villafuerte described the plan as essential to safeguarding the nation’s financial stability and diversifying its reserves.

Bill Outlines “Bitcoin Purchase Program” for Central Bank

The draft legislation frames Bitcoin as “digital gold,” citing its strong growth over the last five years and rising relevance in global financial markets. Inspired by El Salvador’s adoption of Bitcoin, the proposal seeks to establish a formal Bitcoin Purchase Program managed by the BSP.

The law would also require a proof-of-reserves system, obligating the central bank governor to publish quarterly reports on holdings, transactions, and private key management to ensure transparency.

Philippines Could Overtake El Salvador in Bitcoin Holdings

If approved, the measure would put the Philippines ahead of El Salvador, which currently holds around 6,276 BTC, and closer to Bhutan, which holds more than 10,500 BTC. At today’s prices, the Philippine reserve could exceed $1.1 billion, cementing the country’s position as a key player in Bitcoin adoption.