Deputy Luiz Gastão introduced the “Strategic Sovereign Bitcoin Reserve” bill (PL 4501/2024) to Brazil’s Economic Development Committee on Feb 9.

The plan: accumulate 1M BTC over 5 years through gradual government purchases.

Brazil just reintroduced a bill to acquire 1 MILLION bitcoin as a national strategic reserve.

Not 1,000. Not 10,000. One million BTC. ~$69 billion at today’s prices.

The nation-state Bitcoin race is accelerating. 🧵

This isn’t Brazil’s first attempt. A previous version limited exposure to ~170,000 BTC.

The new bill is a 6x expansion:

• Bitcoin accepted for federal tax payments
• Mining incentives for Brazilian companies
• Federal custody standards

If approved, Brazil would hold more BTC than any nation, surpassing the US (~200K) and China (~190K) combined.

1M BTC = ~$69B, roughly 3.5% of Brazil’s total foreign reserves.

Reality check: one congressman’s bill in committee. Brazil’s Congress moves slowly.

But the direction of travel is clear, nations are waking up to bitcoin as a strategic asset.

Game theory playing out: 🇺🇸US: Strategic Bitcoin Reserve EO 🇸🇻 El: Salvador stacking since 2021 🇧🇷 Brazil: 1M BTC bill 🇨🇿 Czech: Republic central bank considering BTC 🇯🇵 Japan: Metaplanet accumulating

While BTC Twitter panics at $69K and Fear & Greed sits at 9… nation-states are quietly positioning.

They’re not watching the chart. They’re reading the code.

The bill: https://www.camara.leg.br/proposicoesWeb/fichadetramitacao?idProposicao=2601408