Chile Explores Strategic Bitcoin Reserve Amid Advocacy Efforts

Chile is considering integrating Bitcoin into its economic framework through the establishment of a Strategic Bitcoin Reserve (SBR).

Mining advocate Andrés Villagrán has been leading the charge, engaging with parliamentarians and government officials to highlight Bitcoin’s potential as a national reserve asset.

Villagrán’s efforts, supported by Dennis Porter of the Satoshi Act Fund and Simon Collins of Stackr, gained momentum in 2024. In November, they presented the SBR concept to key government figures, including members of President Gabriel Boric’s administration. Deputy Gael Yeomans proposed forming a bipartisan “Bitcoin Bench” to study Bitcoin’s potential and draft related legislation, signaling growing political interest.

However, the Central Bank of Chile remains skeptical, citing regulatory and IMF standards. Despite these challenges, Villagrán plans to intensify efforts in 2025 by engaging with the Ministry of Finance and lawmakers to solidify support.

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If successful, Chile would join Brazil and other nations exploring Bitcoin as a reserve asset, positioning itself as a leader in cryptocurrency adoption in Latin America. Villagrán envisions Bitcoin playing a central role in Chile’s economic strategy, promoting financial stability amid global uncertainties.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.