The Philippine Strategic Bitcoin Reserve Act (House Bill 421) would create a 10,000 BTC national reserve by directing the Bangko Sentral ng Pilipinas to acquire 2,000 BTC annually over five years, positioning Bitcoin as a national security reserve and reporting quarterly proof-of-reserves.
-
10,000 BTC reserve proposed
-
Bangko Sentral ng Pilipinas (BSP) directed to acquire Bitcoin over five years
-
Planned cold storage and quarterly proof-of-reserves; estimated cost ~$1.1 billion
Philippine Bitcoin reserve proposal: 10,000 BTC via BSP purchases over five years — read the bill summary and implications for national security.
What is the Philippine Strategic Bitcoin Reserve Act (House Bill 421)?
The Philippine Strategic Bitcoin Reserve Act is proposed legislation that directs the Bangko Sentral ng Pilipinas (BSP) to establish a national Bitcoin reserve by acquiring 10,000 BTC within five years. The bill frames Bitcoin as a strategic reserve asset and mandates cold storage plus quarterly proof-of-reserves reporting.
How will the BSP acquire the 10,000 BTC and manage custody?
The bill requires the BSP to purchase 2,000 BTC annually over five years, funding acquisitions from designated government appropriations. Custody responsibilities include secure cold storage and quarterly proof-of-reserves audits overseen by the Monetary Board. This approach aims to minimize market disruption and ensure transparency.
Quote: “The Strategic Bitcoin Reserve Act recognizes Bitcoin as an essential reserve asset for the digital age.” — Miguel Luis “Migz” Villafuerte, Representative, Philippine Congress
Why is the reserve framed as a national security measure?
Front-loading national security rationale, the bill characterizes Bitcoin as “digital gold” that can diversify reserve assets and hedge geopolitical or fiat risks. Planners argue a designated digital reserve strengthens economic resilience and provides a modern asset class for strategic contingency planning.
Frequently Asked Questions
How much will the 10,000 BTC reserve cost the government?
At current valuation cited in the bill summary, acquiring 10,000 BTC is estimated at roughly $1.1 billion. Final cost will vary with market price at time of each annual purchase, and the BSP must manage acquisition timing to limit price impact.
Will the reserve include other cryptocurrencies like ETH?
No. The bill specifically targets Bitcoin for the strategic reserve and excludes other digital assets such as Ethereum. The legislation frames Bitcoin as the singular reserve-grade cryptocurrency.
What oversight and transparency measures are required?
The BSP must produce quarterly proof-of-reserves and submit to oversight by the Monetary Board. These measures aim to provide regular transparency to regulators and the public while maintaining custody security.
Key Takeaways
- Target: 10,000 BTC reserve via 2,000 BTC annual purchases.
- Custody: BSP-managed cold storage with quarterly proof-of-reserves.
- Purpose: Frame Bitcoin as a strategic national security reserve and diversify reserve assets.
Conclusion
The Strategic Bitcoin Reserve Act (House Bill 421) proposes a measurable plan for the Philippines to acquire 10,000 BTC over five years, with the BSP responsible for custody and transparency. If enacted, this bill would formalize Bitcoin’s role in national reserves and prompt policy and market attention in the region. Monitor official legislative updates and BSP communications for implementation details.
Published by COINOTAG. Updated: 2025-08-24.
