Brazilian Workers Will Have Salaries in Crypto

Brazil and Indonesia weigh creation of strategic Bitcoin reserves

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Multiple countries, including Indonesia and Brazil, are now exploring the creation of strategic Bitcoin reserves to strengthen economic resilience and modernize financial infrastructure.

Summary

  • Bitcoin Indonesia met with the Vice President’s office to present proposals outlining a Bitcoin reserve strategy.
  • Brazil’s Congress will hold a public hearing on Aug. 20 to debate a bill allowing Bitcoin to be held in national reserves.

Will Indonesia establish a strategic Bitcoin reserve?

Bitcoin Indonesia, a local crypto advocacy group, recently met with officials from the office of Indonesia’s Vice President, Gibran Rakabuming Raka, to present a national Bitcoin strategy.

Indonesia is currently assessing whether Bitcoin could be integrated into its national reserve framework, though the concept remains in an early stage. 

“Yes, seriously. [Indonesia] is looking into how Bitcoin could fuel long-term economic strength,” Bitcoin Indonesia wrote on X.

During the meeting, Bitcoin Indonesia representatives presented arguments for using surplus renewable energy to support Bitcoin mining and accumulation.

The delegation also distributed educational materials such as The Bitcoin Standard and The Changing World Order, stressing the importance of public understanding and institutional support. 

A representative from the Vice President’s office reportedly agreed, saying Indonesia “must continue to educate about Bitcoin in the future.”

While Indonesia currently permits cryptocurrency trading, it bans its use as a form of payment, a regulation in place since 2017. However, growing institutional interest and domestic energy strategies have opened the door for deeper involvement in the Bitcoin economy.

US interest sparks global trend

Indonesia’s interest comes months after the United States announced the creation of its own strategic Bitcoin reserve. The move, authorized by an executive order signed by President Donald Trump, marked a turning point in Bitcoin’s role in national economic strategy. 

Many governments view a Bitcoin reserve as a hedge against external shocks, including currency devaluation, inflation, and geopolitical instability. Unlike fiat currencies, Bitcoin operates outside centralized banking systems and offers sovereign control over digital wealth. 

For nations with underutilized energy resources or weak national currencies, holding Bitcoin offers both diversification and strategic optionality.

The rise of institutional crypto custody, blockchain infrastructure, and global regulatory clarity has also contributed to the feasibility of a sovereign Bitcoin reserve. 

In some jurisdictions, Bitcoin has been viewed as a tool to attract foreign investment, modernize digital infrastructure, and participate in the emerging digital economy on favorable terms.

Experts have long speculated that the United States’ decision to create a strategic Bitcoin reserve would trigger a global cascade of similar initiatives, and that trend seems to be materializing.

Brazil moves closer to formal Bitcoin reserve legislation

Brazil is one of the latest countries to take legislative steps toward a national Bitcoin reserve. The country’s House of Representatives is scheduled to hold a public hearing on August 20 to debate a bill that would allow up to 5% of the nation’s treasury reserves to be allocated to Bitcoin. If enacted, the proposal could authorize an investment of approximately $15 billion.

Six major institutions, including Brazil’s central bank and finance ministry, are expected to participate in the hearing.

However, the legislation may have trouble passing, as not everyone is on board. So far, Vice President Geraldo Alckmin’s office has endorsed the discussion as being in the national interest, but the Brazilian central bank’s monetary policy director has expressed skepticism about the appropriateness of Bitcoin in Brazil’s foreign reserve mix.

Elsewhere, officials across countries such as Pakistan, Ukraine, and Sweden have been vocal about their interest in exploring Bitcoin reserves.

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