👀 Currently, 20 states in the United States have active proposals to create their own Bitcoin Reserve, several of which are progressing. These bills contain legal obligations to purchase $23 billion in Bitcoin, which would create significant demand.
These bills may also encourage some states in the United States to invest their pension funds in Bitcoin, adding more demand. BTC is on the verge of a supply shock, so even a few successful bills could have a dramatic impact.
US states want Bitcoin reserves
Since President Trump first promised to create a United States Bitcoin Reserve, several states have attempted to develop their own BTC reserves. Matthew Sigel, Head of Digital Assets Research at VanEck, evaluated these proposals, looking for specific purchase obligations contained within them. He found many and determined that they could have a real impact on the price of Bitcoin.