Brazil Revives Proposal for National 'RESBit' Bitcoin Reserve Targeting Up to 1 Million BTC

Brazil’s Chamber of Representatives has reintroduced Bill No. 4501/2024, an alternative text that proposes creating a National Bitcoin Strategic Reserve—called RESBit—with an objective to accumulate up to 1 million BTC over a multi‑year period ^[1][3].

The proposal frames RESBit as a tool to diversify the country’s reserves and strengthen financial resilience, with lawmakers discussing a gradual purchase program over roughly five years; some coverage cites a projected budgetary allocation in the tens of billions of dollars for the initiative ^[3][4].

Supporters have advanced the measure through the House’s Economic Development Commission and continue legislative work on the bill, even as commentators note Bitcoin’s recent weak price performance and elevated volatility in the short term ^[1][4].

The plan remains a legislative proposal under consideration in Brazil’s House of Representatives; its implementation, funding details and timeline will depend on further committee review and eventual passage of the bill ^[1][3][4].