The Brazilian House of Representatives is advancing a bill proposing the acquisition of at least 1 million bitcoins over five years, valued at approximately 350 billion reais ($68 billion). This move would position Brazil among the largest bitcoin holders globally, representing 1/21 of the total bitcoin supply. The bill also suggests establishing a national bitcoin reserve, exempting capital gains tax on digital assets, allowing federal taxes to be paid in bitcoin, prohibiting the auction of judicially seized bitcoins, and clarifying self-custody and transaction privacy rights. However, the Central Bank of Brazil and the Ministry of Finance have expressed opposition, citing concerns that bitcoin does not meet the safety and liquidity standards required for foreign exchange reserves.