Overview

• House Bill 421 by Rep. Miguel Luis Villafuerte would require the Bangko Sentral ng Pilipinas to buy 2,000 BTC annually for five years and hold the assets for two decades.
• During the lockup, disposals would be barred except to service national debt; after 20 years, sales would be limited to 10% of holdings in any two-year period.
• Management would rest with the central bank under oversight from the finance, defense and securities regulators, using distributed cold storage plus quarterly public proof-of-reserves verified by independent auditors.
• Lawmakers are beginning formal review of the proposal, which is not yet law, with supporters framing Bitcoin as a long-term “digital gold” reserve asset.
• Industry voices back the ambition but warn about price volatility, cybersecurity, unclear funding sources and institutional capacity; a 10,000-BTC reserve would exceed El Salvador’s current stash if approved.