Behold, the Philippine House of Representatives has unleashed House Bill 421, a.k.a. the “Philippine Strategic Bitcoin Reserve Act”! Because nothing says “financial stability” like storing 10,000 Bitcoins in a digital vault, hoping it doesn’t crash like a soufflé in a earthquake. 🏦😅
Congressman Migz Villafuerte, a man who’s probably never owned a stablecoin, submitted the bill on August 20, 2025. The plan? Bangko Sentral ng Pilipinas (BSP) will buy 2,000 Bitcoins yearly for five years. Because who *doesn’t* want their central bank to look like a crypto-obsessed teen? 🤑💸
These Bitcoins will be locked away for 20 years, like digital golden eggs you can’t sell or move. Because nothing says “economic security” like betting the farm on a asset that fluctuates more than a chandelier in a disco. 🪙✨
The BSP will manage this madness, while a “national committee” watches-probably from a bunker. The bill calls Bitcoin a “hedge against inflation,” which is code for “we’re throwing darts at a financial board.” Gold? Pfft. Bitcoin’s the new shiny. 🦄
They’ll even tweak the New Central Bank Act to add this chaos. The Philippines joins El Salvador, the “I’m Feeling Lucky” button of nations, in this crypto gamble. Because why not? 🎲
El Salvador went first, but now? Experts are panicking like a goldfish in a blender. Rules are vague, prices swing wildly, and the country’s fiscal future is now a game of “hot potato” with a time bomb. 🕒💥 But hey, at least it’s not another boring currency! 🤷♂️
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2025-08-22 16:53