Recently, a discussion about the national digital asset reserves has erupted in the Philippine political arena. Congressman Migz Villafuerte submitted a notable bill to Congress on August 22, 2025 - HB 421. The core content of this bill calls for the establishment of a strategic Bitcoin reserve for the Philippines.

According to the proposal by Congressman Villafuerte, the Central Bank of the Philippines will purchase 2,000 Bitcoins annually over the next five years, reaching a total of 10,000 coins. More notably, these Bitcoins will be required to be held for up to 20 years.

This bold move embodies profound strategic considerations. Firstly, it aims to enhance the stability and security of the national finances through diversified asset allocation. Secondly, this decision also reflects the Philippine government's forward-looking understanding of the changes in the global financial landscape, particularly the anticipated growing importance of cryptocurrencies in the future financial system.

It is worth mentioning that if this proposal is passed, it will make the Philippines one of the few countries in the world to incorporate Bitcoin into its national reserves. This could not only have a profound impact on the financial policy of the Philippines itself but may also trigger a chain reaction on the international stage, prompting more countries to reconsider their asset reserve strategies.

However, this proposal has also sparked considerable controversy. Supporters believe it is a wise move in line with global financial trends, while critics worry that the volatility of Bitcoin may pose risks to national finances. Regardless, the introduction of the HB 421 bill signifies that cryptocurrencies are gradually moving toward the center of the mainstream financial sector, and this trend is worth our continued attention.