I commendThe new Bitcoin bill in the efforts of the Philippines in their desireproposes to become amongst those who are establishingpurchase 10,000 BTC for the national reserve. Here the government has taken a great step and proposed to invest in Bitcoin reserve as this would elevate their economic sovereignty, and would also helpplans to reshapekeep Bitcoin as part of their assets in the Philippines approachnational reserve. We can see that the acceptance of Bitcoin is increasing day by day, this may be a step by the government of the country to improve the economic position of the country through Bitcoin investment. Bitcoin can be an important part of financial resiliencediversification in the future, this is the first legally proposed in the Asian continent and the first such initiative taken by the Filipinos, they have formulated the proposal for a Bitcoin reserve using the parliamentary legislative procedure.
Although the bill is yet to be passed into law and is currently pending, this act shows that day by day, countries are beginning to see the need and importance of owning a Bitcoin reserve.🇵🇭
Yes, they have decided to buy 10,000 Bitcoins in five years by buying at least 2,000 Bitcoins every year. The bill also states that one of them will be under the central bank. And this holding will be for at least 20 years. If it is passed in parliament, it will unlock economic opportunities for the Philippines. This reserved Bitcoin will make a big contribution to protecting the Philippine economy from inflation in the future. Many countries in Asia are currently attracted to Bitcoin, notably Japan, China, India and the Philippines are joining it. Hopefully, Bitcoin will gradually gain acceptance in all countries of the world.