Many U.S. states and federal leaders examine forming Bitcoin reserves which could pour approximately $23 billion into the Bitcoin marketplace based on VanEck firm data.
Through 20 Bitcoin reserve proposals VanEck determined states would need 247,000 BTC according to research and post released on Feb. 12. Bitcoin demand from state pension funds should be added to these numbers because they could make the requirement even stronger.
Due to incomplete information records of states Sigel reflected that the $23 billion value might not reflect the actual reserve needs.More entities embracing BTC for money reserves proves it is gaining credibility as a regular investment tool.
Rising Bitcoin Adoption and Trump’s Reserve Plans
The CEO of Gems Launchpad mentioned on Feb. 9 that BTC receives growing importance from institutions and national authorities.Reports indicate that while in office Donald Trump directed his team to assess if the national government should hold BTC in its reserves.
In February he required officials to start building a national fund that analysts see as an effective BTC buying instrument. The New York Post published on January 16 that Trump might create a BTC reserve with various coins like USD Coin, Solana, and XRP.
More than 150 companies have put BTC into their reserves due to its potential as an inflation protection method as listed on BTC Treasuries.NET.Through prediction markets Kalshi expects Trump’s chances to set up BTC reserves for america stand at 52% during 2023. BTC adoption may grow better from government cryptocurrency reserves than from BTC exchange-traded funds (ETFs), based on research by CoinShares on January 10th.
CoinShares thinks that creating the BTC Act in the U.S. system would affect BTC better than starting ETF products. The potential acceptance of Bitcoin-backed plans will expand Bitcoin’s status as a strategic asset and represent a distinct change in how the U.S. manages money.
