New Hampshire has just fired the first shot, becoming the first state in the U.S. to pass a Bitcoin strategic reserve law. What does this mean? State finances can directly use funds to purchase Bitcoin!
If New Hampshire invests $1 billion annually in Bitcoin, and a few other states follow suit, that would mean tens of billions of incremental funds entering the market each year. Currently, relevant bills from Texas, Ohio, and North Carolina are in the process, and it is expected that 3-5 more states will join this "currency hoarding war" in the coming year.
While retail investors are still hesitating, large institutions have already started to take action. The Japanese listed company Metaplanet invested $53.4 million yesterday, purchasing 555 Bitcoins at once. Bitcoin is currently fluctuating around $96,000, and breaking through the $100,000 mark seems just a matter of time.
However, in the short term, there is still uncertainty in the market. Recently, the U.S.-Canada tariff issue has caused significant losses in the U.S. stock market. Exports from the U.S. were hindered in March, and exports from Canada to the U.S. experienced the largest decline in five years. These macroeconomic factors could cause Bitcoin to hit a sudden brake at any moment, and fluctuations of several points in the short term are normal.
In the long term, with more and more governments and institutions entering the market, the prospects for Bitcoin are bright. However, in terms of short-term operations, it is still necessary to remain vigilant and closely monitor the policy trends of various states, macroeconomic trends, and changes in market sentiment. Remember, opportunities always favor those who are prepared!
