Philippines wants to buy 10,000 Bitcoins, locked up for 20 years! What’s the Purpose?

Jakarta, Pintu News – The Philippines is in the spotlight of the crypto world after the government proposed the creation of the Strategic Bitcoin Reserve. The bill would require the Philippines’ central bank to buy and store Bitcoin (BTC) for two full decades.

This move not only reflects confidence in the future of cryptocurrencies, but also opens up discussions on economic stability, financial literacy, and potential risks.

1. What is Strategic Bitcoin Reserve?

The bill is called the Strategic Bitcoin Reserve Act and has been filed by a member of the Philippine House of Representatives, Miguel Luis Villafuerte. According to a report from Decrypt, the reserve will be managed by the central bank with a target accumulation of 10,000 BTC in five years, or 2,000 BTC per year. If converted to the current BTC value of IDR1,827,334,580 per coin, the total purchase reaches more than IDR18.2 trillion.

The bill also stipulates that Bitcoin can only be sold after 20 years, and even then only to repay the country’s debt. According to Villafuerte, this is because Bitcoin is gaining importance as a “strategic asset” that can help strengthen the Philippines’ economic stability. He emphasized that the accumulation of BTC is in anticipation of the new direction of the global financial system.

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2. Strict Rules on Storage and Transparency

Not only buying Bitcoin, this bill also requires a proof-of-reserve system, aka proof of ownership and reserve reporting. This aims to create public trust and avoid potential misuse of state funds. Data and transparency will be improved through public audits of government-owned digital wallets.

Paul Soliman, CEO of blockchain company BayaniChain, told Decrypt that this transparency is “unprecedented in the financial system.” By opening up public wallets, the public can help monitor government transactions, an approach that is difficult with conventional gold or foreign exchange reserves.

3. Support and Criticism from the Local Crypto Community

Some Philippine crypto industry figures have welcomed the move, though remain cautious of the risks. Miguel Antonio Cuneta, founder of Satoshi Citadel Industries, called the plan an “asymmetric bet” that could pay big dividends if successful. He also told Decrypt that the Philippines could emulate the strategies of other countries that have set up crypto reserves such as Bhutan and Pakistan.

However, not everyone is optimistic. Luis Buenaventura, head of crypto at GCash app, expressed doubt that the bill will pass, although he hopes local companies will start adopting Bitcoin as a reserve asset. He emphasized that the bill could trigger a broader discussion on the role of cryptocurrencies on the balance sheet.

4. Volatility Risk and Low Financial Literacy

One of the biggest concerns is Bitcoin’s extremely high volatility. In his interview with Decrypt, Paul Soliman mentioned that using public funds for risky assets could spark controversy. With the price of BTC fluctuating drastically, the country also faces the possibility of huge losses before the 20-year lock-in period ends.

Soliman also underlines the importance of financial education of the community before the project begins. He says, “With a smart acquisition strategy and a parallel investment in education, this reserve could become a symbol of national accountability.” Without that, the move could backfire if it is not widely understood by the public.

5. Philippines and Stricter Cryptocurrency Regulation

Interestingly, this proposal comes amid a wave of strict regulations being imposed by Philippine authorities on foreign crypto platforms. According to Decrypt’s August 6, 2025 report, the Philippine Securities and Exchange Commission (SEC) has blocked access to almost all international crypto exchanges that are not officially registered.

This shows that the government not only wants to accumulate crypto as an asset, but also strengthen its control over digital trading activities. The SEC even stipulates that digital asset service providers (CASPs) must have a minimum capital of around Rp292 billion and be incorporated locally, according to Memorandum Circular No. 5 which takes effect from May 30, 2025.

Conclusion: A Bold Move that Still Leaves a Question Mark

The Strategic Bitcoin Reserve Bill shows the Philippines’ boldness in entering the cryptocurrency world with a long-term approach. However, its success still depends on many factors, such as price stability, legislative support, and the readiness of legal infrastructure and public education.

Will this strategy make the Philippines a new pioneer in digital asset policy, or will it be a valuable lesson for other countries? Only time will tell.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Vince Dioquino/Decrypt. Philippines to Consider Strategic Bitcoin Reserve With 20-Year Lockup. Accessed August 25