Brazil's Chamber of Deputies is set to hold a landmark public hearing on August 20, 2025, to discuss a proposal for creating a national Bitcoin reserve. This initiative, outlined in Bill 4.501/2024, aims to allocate up to 5% of the nation's foreign exchange reserves to Bitcoin and other secure crypto assets. The hearing marks a significant step towards integrating digital assets into Brazil's financial infrastructure and aligning the country with emerging global trends.
Federal Deputy Eros Biondini authored Bill 4.501/2024, which was initially introduced in November 2024. The bill proposes that Brazil diversify its sovereign assets by including Bitcoin in its national reserves. Federal Deputy Luiz Philippe de Orleans e Bragança formally requested the public hearing through the Economic Development Commission (CDE). The session will take place in Plenary 5, Annex II of the Chamber of Deputies in Brasília, beginning at 4:00 p.m. on the opening day of the congressional term.
The hearing will feature participation from key stakeholders in Brazil's financial and crypto sectors. Diego Kolling, Head of Bitcoin Strategy at Méliuz, and Rubens Sardenberg from FEBRABAN have confirmed their attendance. Invitations have also been extended to representatives from Abcripto, the Central Bank of Brazil, the Ministry of Finance, and the Ministry of Development, Industry, Commerce, and Services. This diverse group of experts will provide insights into how Bitcoin integration could affect Brazil's fiscal, monetary, and industrial policies.
The public hearing will focus on the potential risks, benefits, and regulatory challenges of establishing a Bitcoin strategic reserve. Supporters of the bill argue that incorporating Bitcoin into the national reserve could enhance Brazil's financial resilience and support its digital transformation agenda. They believe that diversifying reserves with Bitcoin could offer protection against currency fluctuations and geopolitical risks while promoting blockchain innovation. Critics, including officials from the central bank, have raised concerns about the volatility of crypto assets and their suitability as reserve instruments.
Brazil's consideration of Bitcoin as a sovereign asset marks a potential turning point in its fiscal policy. If the bill is approved by both legislative houses, it would require presidential sanction to become law. The outcome of the August 20 hearing could significantly shape Brazil's financial strategy for years to come and potentially influence similar discussions in other emerging economies, particularly in Latin America.
Brazil has been increasingly active in the crypto space. In Q1 2025, institutions added over 95,000 BTC, bringing total public holdings to 688,000 BTC worldwide. Brazilian fintech Méliuz acquired 45.7 BTC for $4.1 million in March 2025, with plans to expand its Bitcoin holdings. A shareholder vote is scheduled to determine if Bitcoin will become part of Méliuz's long-term reserve asset plan.
Brazil's crypto adoption rate is projected to reach 31.9 million users in 2025, with a user penetration rate of around 14.58%. It is estimated that Brazil will have a crypto adoption rate with revenue of $353.5 million by 2030. The country's regulatory landscape for cryptocurrencies is evolving, guided by the Brazilian VIRTUAL Assets Law (BVAL), which aims to ensure transparency, prevent money laundering, and protect consumers. While Brazil has legalized cryptocurrencies like Bitcoin, they are not considered legal tender.
