The U.S. and nearly 20 states are still working to establish Bitcoin reserves.
Although analysts predict that prices could rise significantly if BTC reserves are implemented, VanEck announced that if the reserves are approved by U.S. states, BTC purchases could reach $23 billion.
VanEck research director Matthew Sigel stated that they reviewed 20 state-level Bitcoin reserve bills and found that if these bills are passed, U.S. states could collectively purchase approximately 247,000 BTC.
Sigel noted that this analysis does not include the BTC that national pension funds might purchase; if they also buy BTC, demand and prices would further increase.
We analyzed 20 state-level Bitcoin reserve bills.
If these become law, purchases of $23 billion (equivalent to 247,000 Bitcoins) could occur.
This amount is unrelated to the allocation of national pension funds; if they also invest, demand could increase.
Due to a lack of details (many of which are 'ineligible' and their scale is unknown), this $23 billion estimate may still be conservative.
It is well known that U.S. President Trump has tasked a group with developing a federal regulatory framework for digital assets, including stablecoins, and studying 'strategic national digital asset reserves.'
At this time, there are reports that Trump is considering including various cryptocurrencies such as XRP, Solana, and USDC, in addition to Bitcoin, in the U.S. national reserve.
