The Philippines has introduced a new bill to establish a strategic Bitcoin Reserve, by amassing 10,000 BTC over five years for two decades.
If the bill becomes law, the Philippines will become one of the first countries in Asia to implement a national Bitcoin Reserve.
House Bill 421 or the Strategic Bitcoin Reserve Act by Congressman Miguel Luis Villafuerte, mandates the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 BTC annually.
The bill also permits sales only after 20 years to settle government debt.
The proposal includes strict custody, proof-of-reserves, and disposal regulations to ensure transparency and accountability.
“The increasing significance of Bitcoin in ensuring financial and economic prowess makes it imperative for the country to take significant legislative measures,” Villafuerte said.
He emphasised that stockpiling Bitcoin could strengthen national financial stability.
The Philippines would join a small but growing group of nations exploring Bitcoin as a sovereign asset.
Bhutan has accumulated Bitcoin and Ethereum through hydropower-backed mining, while Pakistan has signaled plans for a similar reserve.
Meanwhile, the Indonesian Vice President’s office has initiated conversations with prominent Bitcoin advocates to explore how Bitcoin could serve as a national reserve asset.
Unlike the U.S. and Germany, which acquired Bitcoin through law enforcement seizures, the Philippine proposal requires scheduled market purchases.
Local Crypto Leaders Weigh In On Bitcoin Reserve
The bill has sparked optimism among local crypto advocates, though concerns about volatility and fiscal tradeoffs persist.
Miguel Antonio Cuneta, co-founder of Satoshi Citadel Industries and a city councilor referred to the bill as an “asymmetric bet with significant upside for the Philippines.”
“Other countries are already setting a template for Bitcoin reserves. Diversifying a small percentage into a non-correlated asset like Bitcoin, with its strong historical growth, could strengthen our financial position without starving critical sectors,” he said.
Meanwhile, Luis Buenaventura, the head of crypto at GCash, called the proposal a “spotlight” on Bitcoin’s growing role in global treasuries.
However, he expressed skepticism about its passage.
Paul Soliman, CEO of BayaniChain, hailed the bill as a “bold step” that treats Bitcoin as a censorship-resistant store of value akin to “digital gold.”
He highlighted the potential for public auditing of Bitcoin wallets, which could foster unprecedented transparency.
“With clear governance and investment in financial literacy, this could be a generational safeguard for the Philippines,” Soliman said.
He too, however, cautioned about risks like market volatility and taxpayer-funded purchases.
Regulatory Context In The Philippines
The Philippines also heightened crypto regulation in the country.
Earlier this month, the Securities and Exchange Commission (SEC) restricted access to unregistered offshore crypto exchanges, citing violations of local law.
In this context, Luis Buenaventura noted the new bill may prompt law enforcement to better manage seized crypto assets.
As the bill heads to legislative debates, its outcome could shape the nation’s approach to cryptocurrency and influence regional trends in sovereign digital asset adoption.
That said, there is a lot of hope for the Philippines, given its administration has embraced blockchain technology for its potential for transformation.
In July 2025, the Philippines government went so far as to record their expenditure on blockchain to increase transparency.
