Currently, Chilean legislators are promoting a law to create a Bitcoin Strategic Reserve. The news was recently published by local media and spread through social networks.
The project is linked to the efforts of Andrés Villagrán, who since 2023 has worked to highlight the benefits of Bitcoin to the Chilean government. Villagrán is a cryptocurrency miner and has collaborated internationally with prominent figures such as Dennis Porter –CEO of the Satoshi Action Fund (SAF)- and Simon Collins –founder of Stackr, a company specialized in BTC mining-.
In late 2024, the team presented the concept of a Bitcoin Strategic Reserve to certain members of President Gabriel Boric’s administration. Villagran, who has dedicated efforts to educating legislators about digital currencyconfirmed that in 2025 meetings will be held with the Ministry of Finance, as well as new meetings with all senators and deputies.
On the other hand, in recent days it was announced that deputy Gael Yeomans, a member of the Social Convergence party, proposed the formation of a parliamentary group dedicated to investigating regulatory frameworks and initiatives related to Bitcoinin order to draft bills. Villagran praise the plan and highlighted that the bench must be inclusive, integrating politicians from all currents, both right and left. Gael’s proposal called the attention of Dennis Porter.
Although these efforts represent significant advances, it is important to note that the creation of a Bitcoin Strategic Reserve could face opposition from the Central Bank of Chile, an organization that has been very critical of the leading cryptocurrency. At the beginning of December, the entity stated that cryptoassets do not meet the necessary requirements to guarantee security to users.
If the Chilean proposal gains strength, Chile would join Brazil as another Latin American country willing to explore the creation of a BTC treasury. Notably, at the end of November, Brazilian congressman Eros Biondini presented a bill to the federal government to establish RESBit, a sovereign strategic reserve of Bitcoin.
It is worth remembering that El Salvador was the first country in the world to adopt Bitcoin as legal tender and to create a treasure based on the money created by Satoshi Nakamoto, which positions it as a world leader in this initiative.
Similarly, the cryptocurrency sector could be facing a significant change with the arrival of Donald Trump to the White House, who promised the creation of a strategic reserve of Bitcoin during his presidential campaign. With leaders like Trump and his new “cryptocurrency czar,” David Sacks, 2025 is shaping up to be a pivotal year for the industry. In this context, Chile could also take an important step and join the trend.
