A new analysis of Vaneck shows that if the 20 state-level bitcoin reserve bill is enacted, bitcoin procurement may be $ 23 billion, which is equivalent to 247,000 BTC.
This estimate excludes the potential pension fund allocation, which can further increase the demand on advancing these proposals.
Matthew Sigale, Head of Digital Asset Research of Vanak, Shared Conclusions on X highlight the increasing interest between American states in keeping bitcoins as reserved assets. These bills presented in various assemblies propose that the states allocated Bitcoin (BTC) to a part of their store.
The estimated $ 23 billion in purchasing pressure can add significant speed to the price of bitcoins, especially if pension funds and other state-managed investment vehicles also allocate to BTC.
While any state has not yet enforced such laws, the growing support between policy makers indicates that the role of bitcoin in government reserves may expand.
State bitcoin bill
By February 2025, many American states are considering laws to install bitcoin reserves. In particular, Utah has made significant progress, with his Bitcoin Reserve Bill passing the House Economic Development Committee on January 28, 2025 and is currently waiting for the Senate discussion.
If approved, uta can become the first state to apply such a reserve.
Other states actively pursue similar initiatives include Missouri, Arizona, Oklahoma and Kentki. Kentucky recently became the 16th state to introduce a law for a bitcoin reserve, which others such as Alabama, Florida, Massachusetts, Missouri, New Hampshire, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, YouTA, Kansas and Vayaming Got involved in
