cyrpto 247k, bills, Bitcoin, BTC, enacted, purchase, state, trigger Mark February 12, 2025 0 Comments

State Bitcoin bills could trigger 247k BTC purchase if enacted

A new analysis by Vaneck suggests that 20 Bitcoin reserve invoices at the state level, if adopted, could lead to 23 billion dollars in Bitcoin purchases, equivalent to 247,000 BTC.

This estimate excludes the potential allowances of pension funds, which could further increase the demand if the legislators advance these proposals.

Matthew Sigel, head of Vaneck’s digital asset research, common The results on X, highlighting the growing interest among American states to hold Bitcoin as a reserve asset. These bills, introduced in various legislatures, propose that states distribute part of their Bitcoin reserves (BTC).

We have analyzed 20 Bitcoin reserve invoices at the state level.
If they are promulgated, they could drive $ 23 billion in purchase, or 247,000 BTC.
This sum is independent of any pension fund allowed, likely to increase if the legislators are progressing. pic.twitter.com/5aznkiwtzf

– Matthew Sigel, CFA Recoreing (@matthew_sigel) February 12, 2025

The 23 billion dollars planned for purchase pressure could add a significant increase to the price of Bitcoin, in particular if the pension funds and other investment vehicles managed by the state also allas BTC.

Although no state has yet implemented such legislation, growing support among political decision -makers indicates that the role of Bitcoin in government reserves could develop.

Bitcoin Bills states

In February 2025, many American states envisaged legislation to establish Bitcoin reserves. In particular, Utah has made significant progressWith its bill on the Bitcoin reserve, adopting the Chamber’s economic development committee on January 28, 2025 and currently pending deliberation by the Senate.

If it is approved, Utah could become the first state to implement such a reserve.

Other states actively pursuing similar initiatives include Missouri, Arizona, Oklahoma and Kentucky. Kentucky recently became the 16th State to present legislation for a bitcoin reserve, joining others like Alabama, Florida, Massachusetts, Missouri, New Hampshire, Northern Dakota, Ohio, L ‘Oklahoma, Pennsylvania, Texas, Utah, Kansas and Wyoming.