Twenty U.S. states are actively proposing Bitcoin reserves, with some already drafting legislation that could lead to a combined $23 billion in BTC purchases. If these measures pass, they could create a massive surge in demand, potentially impacting Bitcoin’s already limited supply.
Some states are considering investing pension funds into Bitcoin, which could further increase demand and strain the supply. With Bitcoin nearing a supply shock, even a few successful bills could push BTC prices to new highs.
According to Matthew Sigel, Head of Digital Assets Research at VanEck, their research found that if these proposals pass, states could acquire 247,000 BTC. This estimate doesn’t even include pension fund allocations, which could drive demand even higher.
While Trump initially promised a national Bitcoin Reserve, progress at the federal level has been slow. However, states like Oklahoma, Arizona, and Utah are moving forward with their own initiatives. Utah’s Bitcoin Reserve proposal recently passed its first committee review, showing real momentum for state-level adoption.
If multiple states successfully establish Bitcoin reserves, the impact on the market could be huge. Given the increasing difficulty of meeting BTC demand, these state-level reserves could put additional pressure on supply. Even if only a few proposals become law, the ripple effect could be enough to drive Bitcoin’s price significantly higher.
A government-backed Bitcoin Reserve could be a game-changer, reshaping the crypto landscape and further legitimizing Bitcoin as a financial asset.
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