U.S. States Consider Strategic Bitcoin Reserves
- Matthew Sigel of VanEck estimates state-level Bitcoin reserve bills could lead to the purchase of approximately 247,000 BTC.
- The proposed bills might generate $23 billion in buying pressure on Bitcoin.
- 20 U.S. states have proposed strategic reserve bills for Bitcoin acquisition.
- North Carolina’s House Bill 92 allows up to 10% of certain funds to be allocated to cryptocurrencies like Bitcoin.
- New Mexico’s “Strategic Bitcoin Reserve Act” proposes up to $2 billion in Bitcoin purchases.
If enacted, these state-level initiatives could significantly impact the liquidity and price movements of the Bitcoin market by introducing substantial buying pressure.
Source (2.6)https://coingape.com/vaneck-chief-matthew-sigel-projects-how-much-bitcoin-strategic-btc-reserves-could-hold/?rand=24432
