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Manila Bulletin devider Philippines devider National devider Bitcoin value surge should make BSP think about putting up reserve--Migz Villafuerte

Bitcoin value surge should make BSP think about putting up reserve--Migz Villafuerte

Published Oct 27, 2025 01:27 pm

At A Glance

  • Camarines Sur 5th district Rep. Migz Villafuerte has reiterated his call for the Bangko Sentral ng Pilipinas (BSP) to establish a strategic reserve on Bitcoin (BTC), the world's largest and most popular decentralized currency.
Camarines Sur 5th district Rep. Migz Villafuerte (Facebook)
Camarines Sur 5th district Rep. Migz Villafuerte (Facebook)


Camarines Sur 5th district Rep. Migz Villafuerte has reiterated his call for the Bangko Sentral ng Pilipinas (BSP) to establish a strategic reserve on Bitcoin (BTC), the world’s largest and most popular decentralized currency.
This, after the value of BTC surpassed $125,000 this month from just below $100,000 at the of 2024--a mark-up of 25 percent.
“Given current market conditions such as more favorable United States (US) policies that are seen conducive to further growth, financial experts and crypto pundits project the world’s first cryptocurrency could even soar to a peak price of $165,000 to $250,000 before the year is over,” Villafuerte said over the weekend.
"This rosy forecast for the original cryptocurrency should prompt the BSP to take a long hard look at putting up a strategic BTC Reserve, so we cash in on the increasing role of this digital asset in the global financial system as a way to diversify our monetary assets to ensure financial security for the country,” he added.
Villafuerte is the author of House Bill (HB) No. 421, which proposes a national Bitcoin reserve.
Cryptocurrencies tumbled in last weekend’s market crash or sellout, but BTC in particular quickly recovered at $115,000 after sliding to $105,000.
“In order for the State to promote and maintain economic prowess, including monetary stability and the convertibility of the peso, especially in times of crisis, the 20th Congress needs to write new legislation aimed at diversifying our assets to ensure financial security by stockpiling on strategic assets such as BTC,” said the Bicolano.
While the Philippines holds dollar and gold reserves, Villafuerte said that, “The increasing significance of BTC in ensuring financial and economic prowess across continents makes it imperative for the country to take significant legislative measures to maximize pressing economic opportunities to safeguard our financial standing.”
BTC was introduced in 2009 as a decentralized digital asset joining the ranks of traditional assets such as cash, gold and real estate. Given BTC's strong performance, US Federal Reserve Chairman Jerome Powell has described it as "digital gold".
The largest crypto in terms of value, BTC has been the world’s best performing financial asset in recent years, with its worth rising by a third to a peak of $125,835.92 this October, from just below $100,000 in 2024.
In contrast, the US dollar has retreated amid investors’ concerns over the Trump administration’s tariff issues with United States (US) trade partners.
Global financial services company J.P. Morgan believes Bitcon is undervalued compared to gold, and expects further trading gain from the so-called “debasement trade” that could further drive its value up to $165,000, or a 40 percent jump from the current level.
Meanwhile, United Kingdom (UK) fintech company Finder’s has predicted BTC’s value to rocket to a higher $250,000 later this year from just below $100,000 in 2024, based on the forecasts of 24 crypto specialists that it had surveyed.
HB No.421 tasks the State to promote monetary stability and the convertibility of the peso, especially in times of crisis, by putting up a Strategic BTC Reserve, where 2,000 BTC shall be purchased annually over five years and that will be held in trust for 20 years.
Villafuerte noted that the establishment of a strategic reserve for BTC is timely, considering that this cryptocurrency’s growth has outpaced all other asset classes, with a compound annual growth rate of about 40 percent over a five-year period.
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