The Philippine House of Representatives has introduced a new House Bill 421, titled “Philippine Strategic Bitcoin Reserve Act,” which is a big move to include cryptocurrency in the country’s financial plans.
Congressman Migz Villafuerte submitted it on August 20, 2025. The country plans to create a Bitcoin reserve to help keep the economy stable and secure the nation. The law says the country’s central bank, Bangko Sentral ng Pilipinas (BSP), must buy 2,000 Bitcoins every year for five years, aiming for a total of 10,000 Bitcoins.
As per the press release, these Bitcoins will be kept for at least 20 years, with rules against selling or moving them. This initiative to not sell or move Bitcoin will protect the country against economic ups and downs and will manage its debts.
The BSP will handle the buying and storage, and a national committee will watch over it to ensure everything is clear and honest. The bill frames Bitcoin as a potential hedge against inflation and a tool to enhance fiscal resilience, drawing parallels with traditional reserves like gold.
It suggests changes to current laws, like the New Central Bank Act, to include this digital money. This makes the Philippines one of the first countries to officially think about managing a Bitcoin reserve, followed by El Salvador.
El Salvador became the first Country to adopt Bitcoin as legal tender. However, the idea has caused some disagreement. Some lawmakers and experts are worried about whether it’s practical to handle this reserve. This situation is complicated by unclear rules and the fluctuating value of Bitcoin.
The plan doesn’t say where the money to buy Bitcoin will come from. This uncertainty has raised concerns about costs. However, the bill is still being reviewed, and more discussions are expected to figure out its details and effects.