A senior official in Brazil: Bitcoin reserves are 'crucial' for Brazil's prosperity

According to Decrypt, Pedro Gioconde Guerra, Senior Advisor to the Vice President of Brazil, stated in a recent speech on behalf of the government that "strategic reserves of Bitcoin are crucial for national prosperity. Discussions about establishing BTC reserves may be a key factor in determining Brazil's prosperity, in line with the interests of the country and the public. Brazilian parliamentarian Eros Biondini (PL-MG) previously proposed legislation to establish a "Strategic Sovereign Bitcoin Reserve" (RESBit). Holding 5% of its foreign exchange reserves (international reserves) as Bitcoin, the Brazilian central bank will use advanced monitoring systems, blockchain technology, and artificial intelligence to monitor transactions and be responsible for custody.