Bitcoin Reserve Plan Signals New Phase In Brazilian Politics
- Santos says Brazil should build a Bitcoin reserve inspired by the El Salvador government.
- Lawmakers debate a plan that could let Brazil hold Bitcoin as state reserves assets.
- Bitcoin policy now shapes election messaging across the Brazilian political landscape.
Brazil’s 2026 election debate has widened as presidential hopeful Renan Santos calls for a national Bitcoin reserve, moving crypto policy from regulatory circles into the center of electoral politics. Santos, founder of Partido Missão, said Brazil should begin holding Bitcoin as part of its sovereign assets, citing resilience, transparency, and global precedents already in motion.
His remarks arrive as lawmakers debate draft legislation that could allow the central bank to acquire Bitcoin gradually, potentially reshaping how the state manages reserves and governance tools.
Bitcoin Moves From Regulation to the Campaign Trail
Renan Santos made the comments during a podcast interview, describing a Bitcoin reserve as practical and already tested elsewhere. “A national Bitcoin reserve is a feasible proposal,” Santos said. “Some countries are already starting to do it. El Salvador has done it. I think we can start building a reserve in Bitcoin.”
Santos, a co-founder of the Free Brazil Movement, has repeatedly cited Nayib Bukele as an inspiration, whose administration adopted Bitcoin at the state level. Momentum around the idea has grown inside Brazil’s legislature over the past year, extending beyond campaign rhetoric. In November 2024, pro-crypto lawmaker Eros Biondini tabled a draft bill calling on the treasury to buy Bitcoin and other “secure” cryptocurrencies.
Before that proposal, Brazil’s parliament held a public hearing on strategic Bitcoin reserve adoption, signaling formal interest at the federal level.
Economic Pressure and the Case for a Reserve
The debate unfolds as emerging economies face inflation pressures, concerns about institutional trust, and demands for reform. In Brazil, lawmakers have examined frameworks that could allow the central bank to allocate up to 5% of foreign reserves to Bitcoin over time.
Santos said his draft election manifesto already includes Bitcoin-related pledges, arguing the topic belongs in national policy discussions rather than technical committees.
“I don’t think it’s crazy to talk about a national Bitcoin reserve,” Santos said. “It’s an important topic.” Santos has linked Bitcoin policy to broader claims about governance and transparency, according to Brazilian media outlet Livecoins.
He said he “trusts” blockchain technology and believes public sector adoption could limit corruption risks. Santos described blockchain as a “cool tool” that would “make the embezzlement of money become much more difficult,” according to Livecoins.
Electoral Stakes and Political Identity
Brazil will hold presidential, vice-presidential, and congressional elections on October 4. Santos launched Partido Missão in 2023 and formally registered the party in November, positioning it against incumbent President Luiz Inácio Lula da Silva and Flávio Bolsonaro, son of former president Jair Bolsonaro.
Related: Brazil Backs Live Orchestra Turning Bitcoin Data Into Music
He has also drawn attention for controversial remarks, including calls for Brazil to pursue nuclear weapons following the U.S. capture of Venezuelan president Nicolás Maduro. Santos framed Bitcoin and defense policy within a wider sovereignty argument during an interview with Brazilian outlet Diário do Poder.
“Sovereignty does not come from rhetoric,” he said. “Sovereignty is built with strength, with the power of deterrence, and with the capacity for defense.” Across Latin America, similar crypto-focused policy positions have entered election debates, including in Argentina, where leaders have discussed unconventional digital asset strategies.
As Bitcoin shifts from treasury theory to campaign messaging, a central question now confronts voters and markets alike: can digital assets become a lasting tool of state governance rather than a symbol of political positioning?
