The number of North American states considering Bitcoin strategic reserve bills is increasing day by day. According to Matthew Sigal, head of research at Venak, if these bills are approved, they could lead to a $23 billion purchase of Bitcoin or approximately 247,000 Bitcoins. He added that this amount is independent of retirement fund allocations and may increase if lawmakers in other states take action. Sigal also noted that this prediction is conservative as more detailed information about these bills is not available. This report examines the status of proposed bills in 20 US states and predicts significant investments in Bitcoin if these laws are approved. While North Dakota is the only state to reject the proposed Bitcoin strategic reserve, Arizona and Utah have passed their bills through legislative committees and progressed further. Meanwhile, Texas has filed a bill titled ‘Texas Bitcoin Strategic Reserve and Investment Act’ on February 12, allowing the state to invest in and trade Bitcoin and other high market value digital currencies. This analysis indicates that the number of Bitcoins that may be added to state reserves is more than 198,100 Bitcoins currently held by the US government. Additionally, investment company Bitwise has stated that if companies and governments want to buy Bitcoin, they mainly need to purchase it from willing sellers. On the real-time digital currency price page, you can view the prices of all tokens and cryptocurrencies live and instantly.
