Philippine Congressman Miguel Luis Villafuerte has filed House Bill 421, proposing that the Bangko Sentral ng Pilipinas acquire 10,000 BTC over five years to create a strategic reserve. The bill outlines strict conditions for acquisitions, storage, and sales, with yearly purchases of 2,000 BTC and a 20-year lockup period. The proposal aims to position the Philippines as a leader in sovereign Bitcoin reserves, with the potential to enhance financial stability. The bill faces hurdles in the legislative process, despite growing global interest in sovereign BTC holdings.