PANews reported on August 22nd that NLNico, citing HB 421 filed by Philippine Congressman Miguel Luis R. Villafuerte, plans to have the Bangko Sentral ng Pilipinas (BSP) purchase 2,000 Bitcoins annually for five years, totaling 10,000 Bitcoins. These Bitcoins will be stored for 20 years to enhance national security and stabilize the debt structure. The bill aims to diversify asset allocation and ensure financial stability by establishing a strategic Bitcoin reserve, addressing the growing role of cryptocurrencies in the global financial system.