Philippines Proposes Central Bank Bitcoin Reserve With 20-Year Lockup

Philippines Proposes Law for Central Bank to Buy and Hold 10,000 Bitcoin as National Reserve

  • The Philippines may require its central bank to purchase 10,000 Bitcoin over five years.
  • The proposed law mandates a 20-year holding period for this Bitcoin reserve.
  • The measure includes strict rules on custody, proof-of-reserves, and asset disposal.
  • Industry voices describe the plan as bold but warn of volatility and the need for better financial education.
  • The proposal makes the Philippines one of the first Asian nations to formally consider a legislated Bitcoin reserve.

The Philippine House of Representatives has introduced a bill to create a Strategic Bitcoin Reserve, tasking the country’s central bank with buying 10,000 Bitcoin over the next five years. The reserve would require a 20-year holding period before any sales, except when used to pay off government debt.

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The bill, called the Strategic Bitcoin Reserve Act, outlines annual purchases of 2,000 Bitcoin by the Bangko Sentral ng Pilipinas. All asset holdings must follow legal guidelines for secure custody and public proof-of-reserves. Lawmakers would restrict liquidation of assets until the 20-year period ends, according to the measure. Congressman Miguel Luis Villafuerte sponsors the bill, stating that the “increasing significance of Bitcoin in ensuring financial and economic prowess” makes such legislation necessary for the country.

The proposal would require strict reporting rules by the central bank. Villafuerte wrote that it is “vital that the Philippines stockpile strategic assets such as Bitcoin” to support national interests and financial stability. The bill differs from other countries’ approaches by mandating direct purchases instead of relying on asset seizures. A copy of the full proposal can be found in House Bill 421.

Some local crypto industry figures see the proposal as potentially beneficial for the country, but they highlight key risks. Miguel Antonio Cuneta, co-founder of Satoshi Citadel Industries, said, “The measure can be an asymmetric bet in the upside for the Philippines.” He added that Bitcoin is a non-correlated asset with strong growth, and advised the government to take care not to impact key areas needing funds.

Other experts call the move bold, stressing Bitcoin’s potential as a long-term store of value but warning about its volatility. Luis Buenaventura, head of crypto at GCash, expressed doubts about passage but noted, “the proposal casts a spotlight on Bitcoin and its growing role in treasuries around the world.”

Paul Soliman, CEO of BayaniChain, said a public Bitcoin reserve could promote transparency if wallet addresses are disclosed, but identified risks such as market swings and the use of public funds.

Bhutan and Pakistan have also entered the sovereign Bitcoin reserve space, while countries like the U.S. and Germany hold Bitcoin from law enforcement seizures rather than direct purchases.

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If passed, the Philippine proposal could become a model for combining transparent reserve management with education and strategic financial planning.

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