Indonesia and Brazil are taking a bold step toward modernizing their economic strategy by exploring the inclusion of Bitcoin in their national reserves.
In a high-level meeting with Vice President Gibran Rakabuming Raka’s office, representatives from Bitcoin Indonesia presented a detailed proposal outlining how the country could use surplus renewable energy to mine and accumulate Bitcoin as part of a long-term economic development plan.
Indonesian Bitcoin (BTC) Reserve Move
Despite stringent crypto tax policies and a nationwide ban on using crypto for payments, Indonesian officials are reportedly receptive to the idea of a Bitcoin reserve for the economy.
A key component of the discussion involved the importance of public education, with Bitcoin Indonesia advocating for awareness programs to improve understanding of Bitcoin’s economic potential. The group also shared macroeconomic projections, including Michael Saylor’s bullish forecast of Bitcoin reaching $13 million by 2045.
With a stable inflation rate of 0.76% and a debt-to-GDP ratio of just 39%, Indonesia’s interest in Bitcoin is not driven by economic desperation but rather by a strategic vision to diversify its reserves and leverage untapped geothermal and hydroelectric energy for sustainable mining.
Brazil Moves Forward with Crypto Reserve Legislation
While Indonesia explores its options, Brazil is already advancing a national conversation on Bitcoin reserves. The country’s House of Representatives is scheduled to hold a public hearing on August 20 to debate a bill that could allow up to 5% of its treasury, approximately $15 billion, to be allocated to Bitcoin.
Six key institutions, including Brazil’s central bank and finance ministry, will participate in the discussions. Though the bill faces opposition from some financial authorities, Vice President Geraldo Alckmin’s office has endorsed it as being in the national interest.
This marks Brazil’s first-ever public hearing on crypto reserves and underscores a growing global shift toward the institutionalization of Bitcoin.
Indonesia and Brazil join a growing list of nations, including the United States, Ukraine, Bhutan, and Kazakhstan, that are actively exploring Bitcoin as a strategic reserve asset. While motivations vary, from hedging against inflation to modernizing financial infrastructure, the trend is clear: sovereign Bitcoin reserves are no longer a fringe idea.
As more governments assess the potential of digital assets, Bitcoin’s role in national economic strategies appears poised to grow significantly, signaling a transformative era in global finance.
Cover image from ChatGPT, BTCUSD chart from Tradingview
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