Overview
- Central bank officials will attend the Central Banking Autumn Meetings in Rio to discuss how reserve managers might use Bitcoin and other crypto assets.
- Officials have not committed to adding Bitcoin to Brazil’s reserves, with sources saying the assessment focuses on reducing dollar reliance through diversification.
- Lawmakers previously held hearings on a proposal to establish a $19 billion sovereign Bitcoin reserve, providing political context for the central bank’s review.
- Analysts expect any step to begin with a small, trial allocation due to volatility risks, with Brazil’s PIX payments system and prior digital-currency work supporting evaluation.
- Brazil will engage counterparts from countries such as Colombia, Jamaica, and the Bahamas, as global interest grows alongside products from asset managers like BlackRock and Fidelity.