Overview

• House Bill 421 would require the Bangko Sentral ng Pilipinas to buy up to 2,000 BTC per year for five years, creating a 10,000 BTC reserve held in cold storage across multiple secure facilities.
• The reserve would be locked for 20 years, with sales barred except to retire government debt, followed by potential disposals capped at 10% every two years after a formal review near the lockup’s end.
• The measure mandates a proof‑of‑reserves framework with quarterly public disclosures detailing balances, transactions and custody arrangements under central bank oversight.
• At recent prices near $116,000 per BTC, the program would exceed $1.1 billion and could place the Philippines alongside Bhutan and ahead of El Salvador by sovereign Bitcoin holdings if executed in full.
• The bill has been filed and now heads to congressional committee review to determine funding, operational execution and the oversight structure, with ultimate passage still uncertain.