The legislature is considered one of the most important powers in any government of any country, as it legislates laws and sets legal regulations.

In a unique campaign, all 350 members of the Spanish Parliament received bitcoins.

This campaign is not the first step of its kind, but the Washington Chamber of Digital Commerce has previously taken a similar step by distributing bitcoins to the US Congress.

What are the reasons for that?

According for reports Reported by ABC, Spain’s third largest national daily, Tutellus, a blockchain-focused educational platform, has taken an initiative to raise awareness of the country’s lawmakers about Bitcoin and blockchain technology.

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In the sense that the process of obtaining Bitcoin by members of the Spanish Parliament falls within the framework of spreading the culture of the blockchain and Bitcoin, to introduce more Bitcoin to the issuance of regulations based on awareness and a correct understanding of the technology.

The same can be said for the Washington Chamber of Digital Commerce.

The aim of this initiative is to make the Spanish political class aware of the role that cryptocurrencies play in transforming the economy and society.

The organization overseeing the bitcoin distribution intended to send one euro worth of bitcoin to each member of the household.

But since email addresses were not available (on the official website of the Spanish Congress) for all 350 people, they chose to send bitcoins to every email from political groups and parties.

Miguel Caballero, founder of Tutellus, said:

It is not a donation.

It is possible that many members of the Spanish parliament already have some experience with cryptocurrencies, but we would like to have the opportunity for those who were not familiar with the new money and how it works.

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The awareness campaign supervised by the “Tutellus” platform comes a few days after the Digital Chamber of Commerce “CDC” organized a similar campaign for members of the US Congress.

Except that the efforts of the “CDC” were directed to awareness and donation later.

Increasing the number of Bitcoin whales:

The legislators’ category may have become a new category for Bitcoin, as they obtained Bitcoin through very small “gifts”.

But the real Bitcoin movement takes place behind the scenes and is run by big whales, and according to the latest update by blockchain analytics firm Glassnode, the number of Bitcoin whales owning more than 1,000 BTC has been on an upward trend over the past few months.

Glassnode says:

The increase in the number of bitcoin whales owning more than 1,000 bitcoins is an indication that more high net worth individuals are entering the space to invest in bitcoin in anticipation of a higher bitcoin price.

Bitcoin accumulation is showing a clear impact on Bitcoin price action, as the cryptocurrency has reclaimed the $11,000 resistance threshold.

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But will Bitcoin continue to hold above this threshold and make its way higher, or will it return to the $10,500 threshold?

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