10,000 Bitcoin: The Philippines' Bold Move for Financial Security

Introduction

A new bill filed in the Philippine House of Representatives — the “Strategic Bitcoin Reserve Act” introduced by Rep. Miguel Luis R. Villafuerte (House Bill No. 421) — would direct the Bangko Sentral ng Pilipinas (BSP) to acquire 10,000 BTC over five years (2,000 BTC per year) to form a long-term strategic reserve. The proposal values the planned stash at roughly $1.1 billion at current prices and would place the coins in a trust for a minimum of 20 years. (CryptoNews / Cointelegraph)

Operationally, the bill requires the BSP to store the BTC in geographically distributed cold-storage, implement a proof-of-reserves system with quarterly public reports and independent third‑party verification, and coordinate with the Department of Finance, Department of Defense, and the SEC for oversight. Sales or disposals would be tightly constrained — allowed primarily to retire sovereign debt, and with caps (for example, limits on how much can be liquidated after the holding period). These safeguards are framed to reduce market disruption and preserve security and transparency.

Proponents argue the reserve would diversify national assets away from traditional holdings (gold and dollars) and position the Philippines alongside other nations exploring sovereign BTC strategies; a 10,000 BTC stockpile would surpass El Salvador’s holdings and approach those of Bhutan. Critics and observers note the measure still requires legislative approval and would carry macroeconomic and market implications if adopted, given global trends of increasing government-level Bitcoin accumulation. (CryptoNews / TradingView coverage)