Philippines Bitcoin Reserve Sets Trend for SEA Nations

Philippines officials announced a push to secure 10,000 Bitcoin for the country’s reserves to shift the national budget onto blockchain. Although controversial at first, this idea seems well-thought-out. If this were to happen, two separate bills in Congress would make the country the first in Southeast Asia to formally adopt Bitcoin as a strategic asset while recording every peso spent on an immutable ledger.

House Bill 421, introduced by Congressman Miguel Luis Villafuerte, calls for the central bank to accumulate Bitcoin over five years and lock it away for two decades .

“The Philippines has just fired a shot that should be heard throughout Southeast Asia. Its planned Strategic Bitcoin Reserve , which would allow it to acquire 10,000 BTC over five years under a 20-year sovereign lockup, is more than just a creative policy idea; it's a regional challenge that puts neighbors on notice,” said Maksym Sakharov, Co-founder and Group CEO of WeFi, a decentralized on-chain bank.

This area’s crypto leader, Indonesia , now has 28.5 million crypto users, but nearly 100 million adults without bank accounts. Adding to it, Thailand and Malaysia have their own growing crypto communities. However, none have taken the bold step Manila is considering.

“The suggestion to put the country's national budget on-chain also shows that the Philippines is preparing to embrace what could be its competitive edge in finance and tech. Manila's move is an important step toward transforming rising grassroots cryptocurrency use into a legitimate state-level financial strategy, and Indonesia, the region's largest economy, cannot afford to disregard this example,” Sakharov told Coin Gabbar.

In the Philippines, blockchain use is already underway as the Department of Budget and Management publishes key budget documents, such as Special Allotment Release Orders , through a platform on Polygon. BayaniChain , the local firm behind the system, says the technology creates “immutable records that ensure accountability from government officials”.

“If Jakarta does the same, Bangkok and Kuala Lumpur will need to step in. Failing to do so would risk leaving them on the sidelines of a regional financial shift. When all four economies implement Bitcoin reserves, it would be a turning point for crypto integration across Southeast Asia,” Sakharov explained.

He added that the impact would also stretch beyond macroeconomics, especially for the millions of underbanked citizens of the four nations. For example, Indonesia alone has more than 22 million crypto users and almost 100 million adults without bank accounts. In addition to diversifying national assets, legitimizing the world's oldest cryptocurrency as a strategic reserve would strongly converge with grassroots adoption, solidifying the nation's standing as a leader in digital finance . More importantly, it could “encourage financial institutions to build” BTC-linked services, which would open low-cost payment rails, stronger savings options, and better financial access for this group.

Neither bill has yet passed, but the Philippines introduced comprehensive crypto rules this year that oblige service providers to register and hold minimum capital, at least for now. In case this move gains traction, there’s a big possibility that the bigger shift will soon appear on the horizon.