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US states push for Bitcoin reserves, could buy $23B in BTC

Twenty US states are proposing Bitcoin Reserves, with some advancing bills that could require $23 billion in BTC purchases, fueling massive demand.

A total of 20 US states are pushing for Bitcoin Reserves, with some proposals already moving forward. If these bills pass, they would require $23 billion in Bitcoin purchases, creating significant demand. This could also lead to state pension funds investing in BTC, further increasing pressure on supply. With Bitcoin already approaching a supply shock, even a few successful bills could send prices soaring.

Since President Trump first pledged to create a national Bitcoin Reserve, several states have taken steps to build their own. Matthew Sigel, Head of Digital Assets Research at VanEck, analyzed these proposals, highlighting their potential impact.

“We reviewed 20 state-level Bitcoin reserve bills. If enacted, they could lead to 247,000 BTC in purchases, worth $23 billion. This figure doesn’t include pension fund investments, which could add even more demand,” Sigel stated.

Although Trump ordered the creation of a federal crypto stockpile, it hasn’t fully delivered on his campaign promise. Meanwhile, individual states are making progress. Utah’s Bitcoin Reserve bill has passed its first committee, while Oklahoma and Arizona have reached the same stage. North Carolina also advanced its proposal today, moving it to the Committee for Commerce and Economic Development.

If these Bitcoin Reserve bills become law, the impact on BTC’s price could be massive. States would be legally required to buy Bitcoin, adding a wave of demand. This doesn’t even account for pension funds, which in some cases could become tied to these reserves.

Beyond state governments, a flood of consumer interest could follow. If multiple states are mandated to hold Bitcoin, everyday investors might jump in, fearing they’ll miss out. With Bitcoin already nearing a supply crisis, these proposals could act as a detonator for an even bigger price surge.

Right now, Bitcoin’s supply struggles to meet rising demand, and 20 state-level reserves could add enormous pressure. While it's unclear how many of these bills will ultimately pass, even a handful could significantly shift the market. A federal Bitcoin Reserve, if created, would be a game-changer that could reshape the crypto landscape entirely.                                               

Author

Jacob Lazurek

Jacob Lazurek

Coinpaprika

In the dynamic world of technology and cryptocurrencies, my career trajectory has been deeply rooted in continuous exploration and effective communication.

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