All 350 ‘Deputies of Congress’ Are Now BTC Holders

As a part of an active Bitcoin and cryptocurrency education/awareness campaign, 350 members of the Spanish parliament (read deputies of Congress) have received a euro worth of BTC. This move mirrors the ‘Crypto for Congress Educational Initiative’ launched by the Washington-based Chamber of Digital Commerce to acquaint Members of the United States Congress with blockchain technology.

350 Spanish Lawmakers Now Hold One Euro Worth Of Bitcoin

As per reports from ABC, Spain’s third-largest national daily, Tutellus, a blockchain-focused educational platform, and Blockchain Observatory launched an initiative to appraise the country’s lawmakers about bitcoin and blockchain technology.

Going by the specifics of the transactions, all 350 ‘deputies of the Spanish Congress’ have each received one euro worth of BTC. Speaking on the successful conduction of this Bitcoin awareness campaign, Blockchain Observatory said.

The objective of both is to make the Spanish political class aware of the transcendental role that cryptocurrencies are playing in the transformation of the economy and society.

It is interesting to note that initially, both organizations intended to send a euro worth of bitcoin to each MP of the house. But then, the unavailability of email addresses (on the official website of Spanish Congress) of all 350 folks made them send the BTC ‘to each of the e-mails of the ten political groups.’

Tutellus founder, Miguel Caballero, who conceptualized and actioned this campaign, remarked:

It is not a donation. Probably many of your Lordships already have some experience in the use of cryptocurrencies, but we would like that those who are not yet familiar with the new money, have the opportunity to get in touch with it.

Following In The Footsteps Of Their American Counterparts

Tutellus and Blockchain Observatory’s bitcoin awareness drive for politicians comes a few days after the Chamber of Digital Commerce (CDC) organized a similar campaign for Members of the United States Congress. With the exception that CDC’s efforts were donation oriented.

As a part of the Crypto for Congress initiative, CDC made a campaign contribution of $50 in bitcoin to every Member of the Congress. Along with this, CDC has made an ‘extensive public online educational training, a toolkit, and resources/ available to ‘Members across all parties to help them engage directly in the cryptocurrency ecosystem.’

It’s not just CDC. This bitcoin education campaign also had the support of members of the Congressional Blockchain Caucus, including crypto-friendly Representatives Darren Soto and Tom Emmer. Emmer, as we all know, has been in the headlines a lot for defending Bitcoin as an asset class.

The BTC Holding Trend Is Only Moving Upwards, Especially Among Whales

Lawmakers may have become new bitcoin holders through minuscule euro and dollar worth BTC ‘giveaways’. But real BTC holding action is going on behind the scenes where whales are stacking sats as if there’s no tomorrow.

As per the latest update by on-chain market analysis firm, Glassnode, the number of bitcoin whales holding more than 1000 BTC has been on an upward trend for the past few months.

Glassnode says that this is:

An indication that more high-net-worth individuals are entering the space to invest in Bitcoin in expectation of $BTC price appreciation.

bitcoin whale activity on the rise
Number of Bitcoin Whales Holding More Than 1000 BTC On The Rise, Source: Glassnode

This ‘high net-worth individual bitcoin accumulation’ sure is showing up in BTC’s price action as the cryptocurrency retook the $11,000 resistance. But will it continue to influence bitcoin’s moves further? That remains to be seen.

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