{"id":12829,"date":"2025-02-13T07:15:32","date_gmt":"2025-02-13T07:15:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12829"},"modified":"2025-02-13T07:15:32","modified_gmt":"2025-02-13T07:15:32","slug":"us-state-strategic-bitcoin-reserves-could-buy-23b-in-btc-vaneck","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12829","title":{"rendered":"US State Strategic Bitcoin Reserves Could Buy $23B in BTC: VanEck"},"content":{"rendered":"<div>\n<p>If state-level strategic Bitcoin reserve bills are enacted, \u201cthey could drive $23 billion in buying or 247,000 BTC,\u201d said VanEck\u2019s dead of digital assets research, Matthew Sigel, on Feb. 12.<\/p>\n<p>\u201cThis sum is independent of any pension fund allocations, likely to rise if legislators move forward,\u201d he added before stating that the $23 billion was a conservative figure, given the lack of details.<\/p>\n<h2>Big Bitcoin Buying Pressure<\/h2>\n<p>The analysis delved into the status of proposed legislation in 20 US states and estimated the potential investments that they could make if the bills were approved.<\/p>\n<p>There was no date for Ohio, Illinois, Missouri, or Maryland, while North Dakota was the only state to have rejected a <a href=\"https:\/\/cryptopotato.com\/cynthia-lummis-reaffirms-vision-for-a-strategic-bitcoin-reserve-in-america\/\" data-wpel-link=\"internal\">strategic Bitcoin reserve<\/a> proposal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We analyzed 20 state-level Bitcoin reserve bills.<br \/>\nIf enacted, they could drive $23 billion in buying, or 247k BTC.<br \/>\nThis sum is independent of any pension fund allocations, likely to rise if legislators move forward. <a href=\"https:\/\/t.co\/5AZnkiwTZf\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/5AZnkiwTZf<\/a><\/p>\n<p>\u2014 matthew sigel, recovering CFA (@matthew_sigel) <a href=\"https:\/\/twitter.com\/matthew_sigel\/status\/1889666062892888338?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The cumulative figure of bitcoins that could potentially go into state reserve funds is higher than the 198,100 BTC that the US government currently holds, <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/usg\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Arkham Intelligence.<\/p>\n<p>Meanwhile, on Feb. 11, investment firm Bitwise <a href=\"https:\/\/x.com\/BitwiseInvest\/status\/1889006015418446033\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a>, \u201cIf companies and governments want to buy Bitcoin, they\u2019ll largely have to buy it from individuals who are willing to sell.\u201d<\/p>\n<p>There are currently 19 states in the US with a crypto reserve bill in the proposal stage, while two \u2014 Arizona and Utah \u2014 have advanced legislation beyond the House committee level, according to the Bitcoin Reserve Monitor.<\/p>\n<p>This week, North Carolina lawmakers proposed legislation to allow the state to invest in Bitcoin exchange-traded products.<\/p>\n<p>Last week, the states of Montana, Iowa, Maryland, Ohio, Florida, Kentucky, and New Mexico introduced bills that would enable the state to invest in digital currencies.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">My bet is\u2026 Arizona gets the first Strategic Bitcoin Reserve <a href=\"https:\/\/t.co\/lH0zrBJMTq\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/lH0zrBJMTq<\/a><\/p>\n<p>\u2014 Bitcoin Reserve Monitor (@BTCResrvMonitor) <a href=\"https:\/\/twitter.com\/BTCResrvMonitor\/status\/1889833657017549109?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 13, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Lone Star State Latest<\/h2>\n<p>Texas is the latest state to file or amend its strategic Bitcoin reserve proposal, of which <a href=\"https:\/\/cryptopotato.com\/texas-lawmaker-files-bill-to-establish-strategic-bitcoin-reserve\/\" data-wpel-link=\"internal\">several<\/a> have been filed. On Feb. 12, Republican Senator Charles Schwertner filed the \u201cTexas Strategic Bitcoin Reserve and Investment Act\u201d (SB21).<\/p>\n<p>The latest legislation for the Lone Star state would enable Texas to invest and trade in BTC and other high market cap cryptos in an investment fund.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Thank you to Lt. Governor <a href=\"https:\/\/twitter.com\/DanPatrick?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">@DanPatrick<\/a> for designating my bill to establish the Texas Strategic Bitcoin Reserve as one of the Senate\u2019s top 40 priority bills. SB 21 would make our state the first to establish a Strategic Bitcoin Reserve &amp; drive innovation, growth, &amp; financial\u2026<\/p>\n<p>\u2014 Charles Schwertner (@DrSchwertner) <a href=\"https:\/\/twitter.com\/DrSchwertner\/status\/1889812642946257247?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/us-state-strategic-bitcoin-reserves-could-buy-23b-in-btc-vaneck\/\" rel=\"nofollow\">US State Strategic Bitcoin Reserves Could Buy $23B in BTC: VanEck<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If state-level strategic Bitcoin reserve bills are enacted, \u201cthey could drive $23 billion in buying or 247,000 BTC,\u201d said VanEck\u2019s dead of digital assets research, Matthew Sigel, on Feb. 12. \u201cThis sum is independent of any pension fund allocations, likely to rise if legislators move forward,\u201d he added before stating that the $23 billion was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12829","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12829"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12829\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}