The Philippines is taking a strategic leap into the digital age with a new bill proposing the creation of a national Bitcoin reserve. The legislation, announced today, outlines a plan for the Bangko Sentral ng Pilipinas (BSP) to acquire 10,000 Bitcoin over the next five years. This bold move positions the country at the forefront of cryptocurrency adoption in Southeast Asia.
A Measured Approach to Digital Assets
The bill mandates the BSP to purchase 2,000 Bitcoin each year until 2030. This steady accumulation aims to bolster the country’s financial stability by diversifying its reserves with digital assets, which some argue are less susceptible to inflationary pressures than traditional fiat currencies. Proponents of the bill suggest that this could safeguard national wealth against economic uncertainties. This strategy echoes discussions in other regions, such as the US proposal to fund a Bitcoin strategic reserve with tariff surplus.
Experts are weighing in on this ambitious plan. “It’s a visionary step,” says Maria Cortez, a financial analyst specializing in digital currencies. “By committing to such a large-scale acquisition, the Philippines is sending a clear signal of confidence in Bitcoin’s future.” However, she cautions, “The volatility of cryptocurrencies can’t be ignored, and the BSP will need to manage these risks carefully.”
Historical Context and Market Trends
This isn’t the first time a nation has explored crypto reserves. El Salvador famously adopted Bitcoin as legal tender in 2021, a move that was met with both enthusiasm and skepticism globally. The Philippines, however, seems to be charting a more cautious path, opting to hold its crypto assets for at least twenty years. This long-term perspective reflects a belief in the enduring value of Bitcoin, despite its notorious price swings. Such optimism is mirrored in predictions like those from Bitwise, which forecasts Bitcoin’s price to hit $1.3M by 2035.
The global cryptocurrency market has experienced its share of turbulence. In 2022, Bitcoin’s value plummeted below $20,000, only to stage a remarkable recovery in subsequent years. As of today, Bitcoin trades at around $45,000, a testament to its resilience and growing acceptance among institutional investors.
Potential Impacts and Future Considerations
The implications of this policy could be profound. For one, it might trigger a ripple effect in the region, encouraging other Southeast Asian countries to consider similar strategies. “This sets a precedent,” remarks John Delgado, a blockchain strategist. “If successful, it could redefine how nations approach digital currencies.”
Yet, questions linger about the execution and oversight of this initiative. How will the BSP navigate the intricacies of crypto trading? What measures will be in place to ensure transparency and security? These are concerns that will need to be addressed to ensure public confidence and the program’s success.
As the world watches the Philippines embark on this digital experiment, the potential for unforeseen challenges and opportunities remains high. Could this be the start of a new chapter in the global financial landscape? Only time will tell. For now, the move underscores an undeniable truth: the age of digital assets is upon us, and nations must adapt—or risk being left behind.
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This article is based on: Philippine bill charts path to strategic reserve with 10,000 Bitcoin
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
