Chile has proposed the creation of a parliamentary Bitcoin Caucus to facilitate the integration of Bitcoin into its national economy.
Bitcoin Caucus Initiative
Led by Congresswoman Gael Yeomans, the proposal aims to establish a Bitcoin Caucus, a parliamentary group dedicated to studying and promoting Bitcoin-related initiatives. The goal is to position Chile as a regional leader in Bitcoin adoption by fostering a regulatory framework that incorporates Bitcoin into the national economy.
Influence of Andrés Villagrán
The initiative builds on the groundwork laid by Andrés Villagrán, who since 2023 has engaged with Chilean lawmakers and officials to highlight the potential of Bitcoin. Villagrán has collaborated with global Bitcoin advocates, including Dennis Porter and Simon Collins, to incorporate international perspectives into Chile's policy discussions. In November 2024, key meetings with government representatives introduced the concept of a Strategic Bitcoin Reserve to enhance Chile's economic resilience.
Current Market Overview
Bitcoin (BTC) is currently trading at $95,140.94, reflecting a 2.15% increase in the last 24 hours. Its market capitalization stands at $1.86 trillion, with a 24-hour trading volume of $65.78 billion, marking a 17.75% increase. The circulating supply is 19.8 million BTC. Bitcoin continues to attract institutional investment, with spot Bitcoin ETFs seeing daily inflows. Bitcoin's hashrate has reached all-time highs, reinforcing network security.
Chile is making significant strides towards Bitcoin integration, which could positively impact its economy and serve as a model for other countries.
