A senior official in President Lula's administration has expressed support for adding Bitcoin to Brazil's national reserves. Pedro Giocondo Guerra, chief of staff to Vice President Geraldo Alckmin, made these remarks during a recent congressional event, describing the potential move as beneficial for the country's financial future as reported by BTC Peers.

Guerra characterized Bitcoin as digital gold, suggesting it could function as both a stable asset and a tool to speed up international money transfers. His comments backed a new proposal called "RESBit," which aims to create an official Bitcoin stockpile for the nation.

The bill, drafted by Deputy Eros Biondini, suggests allocating up to 5% of Brazil's foreign reserves to Bitcoin. Under this plan, the Central Bank would track these holdings using blockchain monitoring and AI verification systems.

The proposal outlines three main goals:

• Protecting the economy from financial shocks
• Diversifying Brazil's investment portfolio
• Supporting the upcoming launch of DREX, Brazil's digital currency

Brazil has already shown receptiveness to cryptocurrency. It became the first country in the Americas to approve spot Bitcoin ETFs, with trading volumes growing substantially. The country also launched a Solana ETF last year.

This isn't Brazil's only crypto-friendly legislation being considered. Federal Deputy Luiz Philippe de Orleans e Bragança recently put forward bill PL 957/2025, which would allow employers to pay up to 50% of salaries in cryptocurrencies while keeping the rest in Brazilian real.

If approved, Brazil would join El Salvador in making a major government commitment to cryptocurrency. However, the bill must clear several steps before reaching President Lula's desk, including approval from multiple committees and both houses of government.

Critics point to Bitcoin's price swings and security issues as major risks for a national reserve asset. Supporters argue that Bitcoin could help Brazil combat inflation and reduce reliance on the U.S. dollar, potentially boosting financial independence.

The cryptocurrency salary proposal builds on Brazil's growing interest in digital assets. Orleans-Bragança, a descendant of Brazil's former royal family now serving his second term representing São Paulo, crafted the legislation to require at least 50% of wages remain in Brazilian real. The bill explicitly makes cryptocurrency salary payments voluntary and provides special provisions for expatriates and freelancers.