Overview

• House Bill 421, filed by Congressman Miguel Luis “Migz” Villafuerte, would establish a Philippine Strategic Bitcoin Reserve.
• The measure directs the Bangko Sentral ng Pilipinas to purchase 2,000 BTC per year for five years, targeting a total of 10,000 BTC.
• Holdings would be locked for 20 years, with sales allowed only to retire government debt and potential gradual disposals capped at 10% every two years after review.
• The reserve would be stored in cold wallets distributed across multiple secure facilities under central bank oversight, with a national committee providing transparency.
• The bill has just been filed and now awaits committee referral and debate, with analysts flagging questions about funding sources and central-bank mandate fit, and noting the Philippines could be among the first in Asia if it passes.