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Bitcoiners Waiting for a “Bukele Moment” In Chile Are Ignoring a $229 Billion Signal that Matters More

Chile’s right‑wing president José Antonio Kast won a decisive runoff, prompting markets to anticipate deregulation and pro‑business reforms. Despite the political shift, Chile’s crypto outlook diverges sharply from El Salvador’s legal‑tender experiment, as regulators favor a cautious, technocratic approach. The Banco Central de Chile, a massive $229 billion pension fund system, and existing tax rules anchor a bottom‑up path focused on bank custody, ETFs and stablecoin frameworks. Industry insiders expect incremental policy – such as local Bitcoin ETFs and bank‑level services – rather than headline‑grabbing mandates.