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A VanEck analysis reveals that about twenty U.S. states are considering acquiring bitcoin reserves, for a potential amount of $23 billion. This initiative could lead to the purchase of 247,000 BTC if the bills are adopted.
20 U.S. States About to Invest Massively in Bitcoin
Matthew Sigel, head of research at VanEck, published a detailed analysis on February 12 on platform X regarding the bitcoin-related bills in various U.S. states.
The study identified 20 legislative proposals aimed at creating strategic bitcoin reserves. If successful, these initiatives would represent a collective investment of $23 billion, or approximately 247,000 BTC.
This figure could even be underestimated, as Sigel notes, since some states have not yet specified the exact amount of their potential investments. Furthermore, this analysis does not include possible purchases by state pension funds, which could significantly increase total demand.
The movement is part of a broader trend of institutional adoption of bitcoin. More than 150 companies are already accumulating bitcoin positions, viewing it as a hedge against inflation according to data from BitcoinTreasuries.NET. This dynamic reflects a growing confidence in crypto as a reserve asset.
A National Dynamic Driven by Trump
Interest in bitcoin as a reserve asset extends to the federal level as well. Donald Trump recently instructed his team to study the creation of a national strategic bitcoin reserve.
According to the New York Post on January 16, the project could even extend to other cryptocurrencies such as USD Coin, Solana, and XRP. The predictive market Kalshi estimates a 52% chance that Trump will realize the creation of a national bitcoin reserve this year.
Industry experts, including CoinShares, believe that the establishment of these reserves could have an even more significant impact than the launch of Bitcoin ETFs in 2024. The firm emphasizes that the enactment of the Bitcoin Act in the U.S. would have deeper long-term repercussions on the adoption of cryptocurrency.
This historic movement by U.S. states towards bitcoin as a reserve asset marks a turning point in the institutional adoption of cryptos, with potentially major implications for the future of the American financial system.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
