Brazil’s House Economic Development Committee has released a substitute bill for RESBit, a proposal that would build a national strategic Bitcoin reserve by acquiring at least 1 million BTC over five years. Based on the source’s cited Bitcoin price of about $68,000, the plan would imply purchases worth roughly $68 billion.
The substitute bill expands an earlier reserve proposal
The measure revises the original bill, PL 4501/2024, introduced by congressman Eros Biondini in November 2024. That earlier version proposed adding Bitcoin to Brazil’s national reserves with a cap of 5% of foreign exchange reserves. After review by the Economic Development Committee, deputy Luiz Gastão, acting as rapporteur, submitted the substitute version in February 2026, raising the target sharply to a minimum of 1 million BTC accumulated over five years.
The substitute bill has already been published on the official website of Brazil’s House of Representatives. It has not become law. It remains at the committee stage and still needs debate and voting before moving to the full chamber, the Senate, and then the president for signature.
Tax payments, custody rules and seized Bitcoin are part of the draft
The proposal goes beyond reserve accumulation. Its provisions include a ban on selling Bitcoin seized by judicial authorities, a clause aimed at reinforcing long-term holding. It would also allow federal taxes to be paid in Bitcoin, extending BTC use into a formal public payment channel.
Other sections mention tax incentives or related support for Bitcoin mining and holding companies, protection for self-custody and free transfers, and possible capital gains tax exemptions. Management of the reserve would be assigned to the Finance Ministry, with custody expected to use security tools such as cold wallets and multi-signature systems.
Funding and regulatory hurdles remain unresolved
The source notes that if enacted, the bill could place Brazil near the top tier of government Bitcoin holders. Still, the path to implementation is complicated. Funding would need to come from foreign exchange reserves or new budget allocations, while current central bank rules do not recognize Bitcoin as a reserve asset.
That leaves the proposal facing both regulatory and political hurdles. At this stage, RESBit is best understood as an ambitious legislative push that has entered the formal process, not a finalized state purchase program. Whether Brazil can reach the full target will depend on later votes and approvals across the country’s institutions.