Philippine lawmakers have introduced measures calling for central banks to build strategic Bitcoin reserves, marking one of Southeast Asia’s most ambitious crypto policy proposals.
Rep. Migz Villafuerte introduced the Strategic Bitcoin Reserve Act in June, purchasing 2,000 Bitcoin (BTC) per year for over five years, in sought the country’s central bank, Bangko Sentral Ng Pilipinas (BSP).
At current prices, the plan costs more than $1.1 billion and establishes a 10,000 BTC reserve trapped in trust for at least 20 years.
Bids for financial security
The proposal outlines the “Bitcoin Purchase Program” that will make BSP a long-term holder of digital assets. Reserves are prohibited from being sold or transferred except in the case of retired government debt.
Villafuerte described Bitcoin as a modern strategic asset that can diversify the country’s balance sheet, enhance financial security, and compare it to digital gold.
The measure also requires central banks to implement an absorption certification system, with quarterly public disclosures detailing holdings, transactions and custody arrangements.
Global Context
If established, the Philippines could outweigh El Salvador’s 6,276 Bitcoin Holdings and rival Bhutan, which owns around 10,565 coins.
El Salvador has been leading global adoption since declaring Bitcoin’s legal currency in 2021, but Bhutan’s sovereign investment division has quietly accumulated large reserves.
At the current level, nearly $116,850 per coin, the Philippines’ proposed reserve represents a substantial sovereignty commitment to Bitcoin, positioning the country among the world’s largest national-level holders.
The bill will face parliamentary debate over the coming months as policymakers hamper the risks and potential benefits of linking a part of the nation’s future to a volatile crypto market.