Efforts to create a Bitcoin reserve continue in the United States and nearly 20 states.
While analysts predict that the price could experience a major increase if the BTC ($96,290.59) reserve is implemented, VanEck announced that BTC purchases could go up to $23 billion if the reserves in the US states are approved.
VanEck research director Matthew Sigel said that they examined 20 state-level Bitcoin reserve bills as part of their research and found that if they were passed, US states could purchase a total of approximately 247,000 BTC.
Sigel stated that the analysis did not include possible BTC purchases by state pension funds, and that if they also purchased BTC, the demand and price would increase even more.
“We analyzed Bitcoin reserve bills at the 20-state level.
If these become law, a purchase of $23 billion, equivalent to 247 thousand BTC, could occur.
This amount is independent of state pension fund allocations, and if they also invest, demand is likely to increase.
Given the lack of detail (many of these states are ‘ineligible’ and their sizes are unknown), this $23 billion estimate remains potentially conservative.”
As is known, US President Donald Trump tasked a group with developing a federal regulatory framework for digital assets, including stablecoins, and researching a “strategic national digital asset stock.”
At this point, it was stated that Trump was considering including different cryptocurrencies such as XRP ($2.45), Solana and USDC ($1.00) in the US national reserve, apart from Bitcoin.
*This is not investment advice.
Continue Reading: How Will BTC Be Affected If Bitcoin Reserves Are Adopted in the US and Its States? VanEck Announces Surprising Results!
