The bill by Representative Miguel Luis R. Villafuerte wants the government to buy 10,000 to 2,000 BTC yearly for five years. The Bitcoins will be held for twenty years in a decentralized wallet controlled by the Central Bank and may be sold for profit-making. This is a welcome development as the news will increase Bitcoin awareness and adoption not just in the Philippines but in neighboring countries. I hope they will keep the coin longer than twenty years, considering that gold reserves have been part of the country's financial history.
Superb. Thank you for providing more details. It sounds like a good plan from the government. And of course there are so many upsides to this for Bitcoin as well as for those of us in the community. I look forward to reading the news of the government buying its first Bitcoin. I hope it is published in the news because it will be such a historic moment.