VanEck: Bitcoin reserves of the US States could generate $23 billion in BTC purchases

VanEck has estimated that if the proposals from the 20 US States to create a Bitcoin reserve were accepted, they would generate 23 billion dollars in BTC purchases

VanEck: the estimate of Bitcoin reserves of US States at $23 billion of BTC purchases

VanEck, asset manager, has released an estimate concerning the ever-growing interest from US states to create their own state Bitcoin reserve

In particolare, Matthew Sigel, responsabile della ricerca presso VanEck, ha dichiarato che l'analisi di 20 Stati Uniti che hanno proposto la riserva di Bitcoin dello Stato, genererebbe acquisti di BTC del valore di 23 miliardi di dollari. Questo importo equivale a circa 247.000 BTC

Here is his post on X:

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“We have analyzed 20 legislative proposals on the state-level Bitcoin reserve.

If approved, they could generate purchases for 23 billion dollars, equal to 247k BTC.

This amount is independent of pension fund allocations, which will likely increase if legislators move forward.”

As specified by Sigel, the analysis does not include the potential purchases of BTC by state pension funds, which would further increase the demand

Another clarification from Sigel of VanEck then states that the figure of 23 billion dollars is potentially conservative, given the lack of some details. In the list of US states that have proposed legislation to establish a state reserve in Bitcoin, many are “n/a” with unknown sizes

VanEck and the legislative proposals in the USA to create a state reserve of Bitcoin

The analysis by VanEck considered as many as 20 states in the USA that have created a bill to establish a state reserve of Bitcoin

Tra gli altri, la scorsa settimana è emersa la proposta presentata in Missouri, chiamata HB 1217, che autorizzerebbe lo Stato a detenere BTC come riserva e ad accettarli per i pagamenti dello Stato.

Specifically, the Missouri Bitcoin Reserve Bill was introduced in the State House of Representatives. Bill 1217 stipulates that there is no explicit limit on investments.

The curious thing is that Missouri has also previously submitted another bill SB 614, again for the creation of a state Bitcoin reserve, which is now in the hands of the Senate. This proposal includes a 10% limit for BTC investments and stipulates that once purchased, the bitcoins must be held for at least 5 years

At the end of January, however, the Arizona Senate approved the bill to use Bitcoin as a state reserve.

Other bills presented at the end of 2024, then, have been made in Ohio, in Texas and Pennsylvania.

The price of BTC below 100K dollars for over 10 days

In the meantime, the price of BTC continues to be below $100,000 for over 10 days. At the time of writing, BTC is worth $96,149.

BTC has fluctuated, in the last 7 days, in a price range of $94,500 and $99,950

This trend in February is very different from January 2025. Especially around January 20, the price of BTC was at 108,000$

The general sentiment on Bitcoin has also decreased. As of today, the Bitcoin Fear and Greed Index is at a score of 50, perfectly neutral

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