Brazil may have just kicked off the sovereign BTC arms race. They've reintroduced a bill to create a Strategic Sovereign Bitcoin Reserve, known as RESBit. It aims to accumulate up to 1 million BTC over five years through regular purchases. At current prices, that would cost about $68-70 billion from their foreign reserves, and it includes a ban on selling seized BTC. This builds on 2024 legislation that supports BTC mining and allows tax payments in Bitcoin. If passed, Brazil would be the first G20 country to treat Bitcoin as a formal reserve asset.

As countries like Brazil follow examples from El Salvador's ongoing buys and Bhutan's mining efforts, the effects on the crypto space could be significant. Sovereign demand might drive up BTC's price, given its 21 million coin limit. Large purchases would reduce available supply, leading to potential rallies and lower volatility as Bitcoin gains status as digital gold.

This trend also advances de-dollarization. Nations can hedge against inflation, currency weakness, and dependence on assets like U.S. Treasuries. Bitcoin serves as a neutral, global option that promotes a more balanced financial system. It adds legitimacy to crypto, attracting institutions, pension funds, and companies, while encouraging better regulations elsewhere.

There are risks, of course. Major buys could lead to market fluctuations, and political obstacles might prevent the bill from passing, as some observers suggest. Still, the pattern is clear: more countries will likely accumulate Bitcoin, shifting it from a speculative asset to a strategic one. For holders, this points to positive developments, with nations actively participating.

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Long read but worth it. Raoul has a very good track record in this space

Thank god for Tom Lee

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