Countries Contemplating a Bitcoin Strategic Reserve
As of October 2, 2025, âcontemplatingâ refers to countries actively discussing, proposing legislation, or exploring policies to establish a Bitcoin (BTC) strategic reserveâwithout yet implementing a formalized program. This excludes nations with established reserves (El Salvador, United States, Bhutan). Discussions often focus on BTCâs role in hedging inflation, diversifying assets, or enhancing sovereignty, inspired by U.S. and El Salvador models. Based on recent reports and announcements, hereâs a list of key countries, grouped by region for clarity:
Europe
⢠Czech Republicâ¨The Czech National Bank (CNB) announced in January 2025 it is considering allocating up to 5% of its âŹ140 billion reserves (~$146 billion) to BTC as part of foreign exchange diversification. Governor AleĹĄ Michl emphasized a small initial portion, pending unanimous board approval.
⢠Russiaâ¨In December 2024, state media reported an official proposal for a national BTC reserve following President Putinâs praise of BTC as an alternative to foreign currencies. Discussions continue amid sanctions, with no acquisition plans yet but strong governmental interest.
⢠Switzerlandâ¨The Swiss National Bank (SNB) is contemplating adding BTC to reserves alongside gold, per ongoing discussions in 2025. However, a formal proposal was rejected in early 2025 due to volatility concerns, though advocacy persists.
⢠Polandâ¨Presidential candidate SĹawomir Mentzen proposed a strategic BTC reserve in his May 2025 campaign platform to position Poland as a crypto hub with low taxes and supportive regulations. No national policy yet, but it has sparked parliamentary debate.
⢠Germanyâ¨Former Finance Minister Christian Lindner urged the ECB and Bundesbank in early 2025 to consider BTC reserves, citing U.S. models. Discussions are exploratory, focusing on Europeâs lag in digital assets.
⢠Netherlandsâ¨Parliament is officially considering a strategic BTC reserve as of September 2025, proposed by MP Thierry Baudet. This reflects growing ânation-state FOMOâ in Europe, with debates on geopolitical leverage.
Americas (Outside U.S./El Salvador)
⢠Brazilâ¨The Sovereign Strategic Bitcoin Reserve (RESBit) bill, proposed in November 2024, cleared its first committee in June 2025. It aims to allocate 5% of international reserves to BTC, managed by the Central Bank to back the Drex CBDC and hedge risks.
Asia-Pacific
⢠Japanâ¨Japan is âcircling the ideaâ of a BTC reserve in 2025, per industry reports, as part of broader digital asset diversification. No formal bill, but government officials have signaled interest amid rising BTC prices.
⢠Hong Kongâ¨A lawmaker proposed in early 2025 incorporating BTC into fiscal reserves via the Exchange Fund for long-term holding. This aligns with Hong Kongâs progressive crypto regulations, though itâs still in exploratory stages.
⢠Philippinesâ¨A bill introduced in August 2025 proposes acquiring 10,000 BTC over five years for a strategic reserve with a 20-year lockup. This aims to boost financial stability, with ongoing legislative review.
⢠Papua New Guineaâ¨The government is exploring a strategic BTC reserve as of August 2025, driven by mining potential and economic diversification needs in the Pacific region.
Other Regions
⢠Venezuelaâ¨Amid economic challenges, Venezuela is considering BTC to reduce U.S. dollar dependence. Proposals date to 2025 discussions, but hyperinflation and sanctions complicate progress.
These 12 countries represent the most prominent ongoing contemplations, with momentum accelerating post-U.S. reserve establishment in March 2025. Many proposals face hurdles like volatility concerns and regulatory alignment (e.g., IMF criteria). Additional nations (e.g., sub-national U.S. states like Arizona and Utah) are pursuing similar ideas but are excluded here as they arenât sovereign countries. Global adoption could surge if early movers succeed, per Fidelityâs 2025 predictions.
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